Tesla Model S front three quarters left

China: Tesla launches trade-in program to spur sales

December 27, 2014

As a move to increase its sales in the world’s biggest vehicle market, Tesla will offer the Model S under a trade-in program to Chinese buyers. Bloomberg reports that Tesla will liaise with used-car traders to buy vehicles from customers in Beijing, Shanghai and Hangzhou and deduct the value of the sale of the old car from the Model S’s sticker price of CNY 648,000 (US$104,000).

Deliveries of the Model S in China started in April this year, and Elon Musk, CEO and product architect of Tesla Motors, expects to start building the car locally in the coming three to four years. The all-electric sedan is available at nine stores in six Chinese cities as of now.

The electric-car manufacturer has a tie-up with companies like China Unicom and Soho China Ltd. to build charging stations in the country. As of now, there are 700 power points in 70 cities nationwide.

[Source: Bloomberg]

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