Tesla announced on Tuesday that it has launched a three-year interest-free financing service for car purchasers in Beijing, while also allowing consumers in the capital to rent license plates for free for up to three years.
However, the new measures have sparked controversy on social media over whether Tesla has the legal authority to conduct a license plate rental business in China. Some netizens suggest that China's transport authorities could investigate this offer in retaliation for the US crackdown on China's technology rise.
In the latest post of Tesla on its official Weibo account, the company said the interest-free service could save consumers 53,000 yuan ($7,673), and the free license plate rental service could save buyers 60,000 yuan.
GM Is Planning Electric Cars That Won't Give Buyers Sticker Shock, General Motors President Says
GM announced in October 2017 that it plans to sell 20 electric-vehicle models globally by 2023. At the time, Reuss said the company’s EV technology is engineered to be low cost and make money. He went a step further today, saying GM’s program will make money without luxury-vehicle prices.
Tesla Shares Plunge After Wider-Than-Expected Q2 Loss, CTO Departure
Tesla said it recorded a loss of $1.12 per share over the three months ending in June, a figure that surprised analysts after the company had announced record deliveries -- including 77,634 units of its flagship Model 3 sedan -- for the period earlier this month. Group revenues also trailed estimates, even as they grew nearly 60% from last year to reach $6.35 billion, but a 1.7% fall in the group's gross margin, which was pegged at 18.6%, indicated that volume and revenue growth won't immediately translate into near-term profits.