The California-based electric automaker Tesla Motors is going to help its Chinese buyers trade in their older cars if they want to purchase a new and luxurious Model S.
This is the latest sign in the ongoing effort by the automakers that offer electric models, as they all strive to spur sales of such models in the world’s biggest auto market. According to a statement coming from the company that is led by billionaire entrepreneur and co-founder Elon Musk, Tesla would facilitate the sale of the customer’s car to used-car traders in the Beijing, Shanghai and Hangzhou cities. After that, the company would also drop the value of the sale from the price of the Model S electric sedan, which starts at 648,000 yuan ($104,000) in China. Tesla began deliveries of its only model in China back in April and Musk ahs already forecasted that the country would soon match and even overcome the US as the company’s No. 1 market, with the company estimating it would need around three to four years to start Model S construction in China.
The Palo Alto, California-based automaker already has nine stores and service centers in six Chinese cities and has numerous local ties, including with China Unicom and Soho China Ltd to setup its extensive charging network. Tesla says China is already the biggest market for the charging stations following the US, with 700 power points in 70 cities.