Tesla RWD Model 3 and Model Y qualify for new subsidy in China, only available until the end of the year

Courtesy of Tesla China
Credit: Tesla China

Tesla now benefits from another EV incentive as its Model 3 RWD and Model Y RWD just qualified for a new subsidy in China. The subsidy is offered by Shenzhen and is available only locally.

Tesla China announced the new subsidy is worth ¥12,000 (US$1,700). However, the subsidy is temporary, but it will help encourage EV sales as the year winds down.

It couldn’t have come at a better time, as Tesla is trying to ramp up sales to conclude the year. Tesla also offers up to ¥33,000 in discount between December 18, 2022, and January 31, 2023. The company cut prices on its two models in China in October.

There have been rumors the government may extend its NEV subsidy, slated to end in 2022, into 2023.

Tesla has already had a bumper year in China in 2023. It smashed monthly sales records in November after making more than 100,000 deliveries. In the same November, the Model Y topped the sales charts for premium SUVs in China. A month earlier, Tesla set another record by exporting over 54,000 units.

Tesla China’s insurance registration has also skyrocketed. As of December 13, Tesla has recorded about 11,670 registrations, a week-on-week increase of 10 percent. More details will be available in January.