Tesla China launches new Model 3 insurance subsidy, Cybervault discount, and cheaper Supercharging

Tesla is kicking off the end of the Spring Festival, which marks the start of the Chinese New Year, with several new promotions. The automaker has reintroduced an insurance subsidy for Model 3 buyers in China, while also offering a discount on the Cybervault and Supercharging pricing.

According to a post from Tesla on the social media site Weibo, the company is offering a subsidy of ¥8,000 (C$1,570/US$1,100) for all Model 3 variants purchased between February 5 and February 28. This discount applies to new custom orders, existing inventory, display models, and test drive vehicles, provided that buyers opt for insurance through Tesla’s partnered providers.

This offer can also be combined with Tesla’s 0% interest financing incentive, which has also been extended to the end of February. The no-interest offer was initially offered last year, but has been extended several times since then due to its popularity.

This latest incentive comes just weeks after Tesla increased the price of all Model 3 trims in China by ¥3,600 on January 10. The earlier price hike pushed starting prices to ¥235,500 for the Rear-Wheel Drive (RWD) version, ¥275,500 for the Long Range All-Wheel Drive (AWD) version, and ¥339,500 for the Performance variant.

With the new subsidy, these prices effectively drop to ¥227,500, ¥267,500, and ¥331,500, respectively.

Tesla’s decision to launch this subsidy immediately after the Lunar New Year holiday was strategic. Historically, the post-holiday period marks a slow season for car sales in China, and with the subsidy and the 0% interest offer, Tesla is looking to boost sales.

Along with the purchase incentives, Tesla China also launched two other promotions. The company is offering a 85% discount on the Cybervault, a Cybertruck-inspired protective case for your home charging station. Additionally, Tesla is also lowering the price at all Superchargers in China to just ¥1 (C$0.20/US$0.14) per kilowatt-hour (KWh) for a 24-hour period.

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