TESLA MODELS AND PRICES LICENSE
In Shanghai, a license plate for a traditional car could cost a whopping 80,000 yuan ($11,608).įor Tesla, the changes could be first step in really joining China’s electric-car club.Tesla CEO and founder Elon Musk is the richest person in the world after overtaking Jeff Bezos in 2022.ĭespite Musk's success, owning a Tesla is not for everyone. In Beijing, for example, traditional car owners have to try their luck in the license plate lottery to get one of just 90,000 plates per year.
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TESLA MODELS AND PRICES FREE
Since 2015, a few municipal governments have allowed the American auto maker to enjoy some of the new energy incentives, such as the lifting of driving restrictions and issuance of free license plates, which are tightly controlled for traditional gas vehicles. Since the California-based company is not operating as a joint venture with local partners, it also has no access to the generous government subsidies for green cars, which can be up to 66,000 yuan ($9,576) per vehicle.Īs local electric-vehicle makers effectively lower their prices with tax cuts and subsidies, Tesla’s already-high price tag becomes even less competitive.īut it’s not all bad news for Tesla in China. The 10% sales tax on automobiles, for example, has been exempted for approved models of green cars since 2014, Tesla, however, was not included on that exempt list, according to official documents from Chinese State Administration of Taxation. showroom, where the car seems affordable, at least compared to the price in China.
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But not all of the benefits apply to foreign auto makers like Tesla.
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To encourage the use of green cars, given the country’s pollution crisis, the Chinese government issues large tax breaks and subsidies to electric-vehicle manufacturers. As the exchange rate is measured, 6.9 yuan are now required to buy one dollar, compared with 6.5 yuan in April 2016, and 6.0 in early 2014. The Chinese media has speculated that the recent price changes have been caused by the persistent decline of the Chinese yuan against the U.S. It’s at least the third price adjustment in the past year alone. The most recent hike was announced earlier this February, when prices for 11 versions of the Model S and Model X increased by about $3,000. The retail price of the Model S in China has been rising ever since the company entered the market in 2014. The estimated shipping cost for Tesla to move its cars across the Pacific, from California to China, is about $3,600 per vehicle, according to a company post in 2014 when the company started selling the Model S in China. factories, and shipping large-sized products like an automobile is never cheap, even in bulk. In 2014, the CEO indicated that he was planning to make cars in China “at some point in the next three or four years.”įor now, though, distance is an issue. It seems that Elon Musk is not completely against the idea of “made in China,” though. Another complication: the joint venture would have to lose the “Tesla” name in exchange for a Chinese brand name - not particularly helpful when it’s Tesla that carries the brand recognition.
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The problem with any joint venture is it would expose the company’s intellectual properties and technologies to all the venture’s partners.