Tesla has received subsidies for its electric cars from the government of China

Tesla has received subsidies for its electric cars from the government of China

December 7, 2019 0 By autotimesnews

Buyers of cars built at the new factory of the American brand in China can count on cost compensation. The maximum subsidy is $ 3,550.

Tesla proudly announced that the new electric car factory in China can now start operating at full capacity. Cars assembled on it are now eligible for state compensation. This will increase demand as well as increase production.

The Chinese Ministry of Industry has previously reported that the 3 models produced at the new plant in Shanghai were listed with other recommended incentive vehicles. The authorities have approved two options for obtaining subsidies of up to 25,000 yuan (3,550 US dollars). The initial price of the Tesla Model 3 in China is 355,800 yuan ($ 50,550).

 Sales of locally produced electric cars should begin early next year. The estimated capacity of Gigafactory is 250,000 cars per year, 150,000 of which are Model 3. Tesla also received a 10 percent tax exemption from the Chinese government, which will help them further reduce their car prices.

It is worth noting that the new Tesla plant in China is the first completely foreign enterprise in China. The government is trying to maximize the popularity of electric cars.