Telsa Model S Won't Qualify for China's Electric Car Incentives
Chinese capital city Beijing has unveiled a new preferential policy for electric cars that includes a purchase subsidy ranging from CNY63,000 to CNY108,000 ($10,400 – $17,800), Xinhua reports.
The release of the policy, first spotted by Tech in Asia, is notable because the subsidies will only go to domestic firms, which means Tesla is left out of the preferential treatment — which could affect its uptake among Chinese consumers.
Earlier this month, Tesla launched the Model S in China with a minimal markup — you’ll have to fork out CNY734,000 (about $121,000) for the Model S with the premium 85 kWh battery pack. However, this price puts it squarely in the high-end category. For comparison, the domestic Shenzhen-based BYD, which is backed by Warren Buffett, pegs its flagship e6 model at CNY370,000 ($61,100) — and under the previous policy, the government subsidized CNY120,000 ($19,000) for each car sold.
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