Daily Management Review

Tesla to offer insurance subsidies to electric car buyers in China


US electric vehicle manufacturer Tesla Inc. is boosting demand in the fiercely competitive sector by offering new incentives to Chinese consumers.

The business announced the new regulations on the social media platform Weibo, affecting Model 3 and Model Y vehicles.

In particular, Tesla is providing customers with an 8,000 yuan ($1113) insurance subsidy. As a result, the price of cars will drop by more than 3%, to 245,900 yuan for the Model 3 and 245,900 yuan for the Model Y.

Additionally, the company is discounting the price of cars with specific body colors by 10,000 Yuan.

Tesla revealed pricing reductions for the Model 3 and Model Y in China in January.

source: investopedia.com