Smart and Sustainable Electric Mobility
From June 16 to June 30, Chinese consumers can receive an RMB 8,000 insurance subsidy if they purchase a rear-wheel drive version of the Model 3 that has already been produced.
(Image credit: CnEVPost)
Tesla (NASDAQ: TSLA) first started offering insurance subsidies in China last September, and cut its prices about a month later.
Now the electric vehicle (EV) maker is offering the subsidy again, but this time the situation may be more complicated.
From June 16 to June 30, Chinese consumers who buy and complete delivery of an already produced rear-wheel drive version of the Model 3 will be eligible for an insurance subsidy of RMB 8,000 ($1,120), according to a poster by Tesla on Weibo today.
Tesla has a factory in Shanghai that produces the Model 3 sedan and the Model Y SUV. The Model 3 is available in two versions -- a rear-wheel drive version and a dual-motor all-wheel drive Model 3 Performance, starting at RMB 231,900 and RMB 331,900 respectively.
For customized vehicles, the expected delivery dates for both versions of the Model 3 are 1-4 weeks, consistent with previous information on Tesla's China website.
In addition to the RMB 8,000 insurance subsidy, Chinese consumers who purchase the Model 3 rear-wheel drive version in stock now can also receive a loan option with a lower interest rate, Tesla's poster shows, without providing details.
On September 16, 2022, Tesla began offering subsidies for owners to purchase vehicle insurance in China after the wait times for Model 3 and Model Y custom vehicles saw multiple reductions in the previous two months.
At that time, the subsidy was valid from September 16 to September 30, and consumers who chose to purchase insurance in a Tesla store could receive a subsidy of RMB 8,000 for new Model 3 and Model Y vehicles.
On October 1, 2022, as the subsidy expired, Tesla extended it to the end of last year.
On October 24, 2022, Tesla cut the prices of the entire Model 3 and Model Y lineup in China, with the entry-level Model Y dropping below RMB 300,000 to take advantage of the then-available state subsidy.
It is worth noting that the latest move by Tesla may involve the upcoming launch of an improved version of the model.
On March 1, Reuters reported that Tesla was working to retool its Shanghai assembly plant for a revamped version of the Model 3, a project codenamed Highland by Tesla.
The Highland version of the Model 3 is expected to go into production in Shanghai in September, the Reuters report said, citing a person familiar with the matter.
With Highland, Tesla aims to cut production costs and boost the appeal of the electric sedan, which debuts in 2017, people involved in the project said.
On May 16, a Bloomberg report cited people familiar with the matter as saying that Tesla was nearing the final stages before starting trial production of its updated Model 3 sedan in Shanghai.
Tesla sold 42,508 units at retail in China in May, ranking third in the country's new energy vehicle market with a 7.3 percent share, according to data released by the China Passenger Car Association (CPCA) on June 9.
Model 3 retail sales in China in May were 11,454 units, up 189.97 percent year-on-year, but down 13.20 percent from April.
Model Y retail sales in China in May were 31,054 units, up 428.58 percent year-on-year and up 16.05 percent from April.
The Model Y was the best-selling SUV in China in May, ahead of the second-place BYD Yuan Plus with 26,072 units and the third-place BYD Song Plus with 22,079 units.
Tesla Model Y best-selling SUV in China in May with 31,054 units sold
($1 = RMB 7.1301)
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The D7 is the first model under Roewe's "D" new energy product series as part of SAIC's "Three-Year Action Plan for New Energy Vehicle Development."
The post SAIC’s Roewe D7 electric sedan official images released in China with 610 km range appeared first on CarNewsChina.com.
The ET5 Touring and EL6 are priced higher in Europe than in China due to factors including transportation costs, local taxes and operating costs.
(Image credit: NIO)
Hours after the ET5 Touring was launched in China, NIO (NYSE: NIO) rolled out the model, as well as the EL6, known in China as the new ES6, in Europe.
Both models will be available in Germany, the Netherlands, Sweden, Denmark and Norway, and deliveries will both begin in the fourth quarter.
Including the battery, the ET5 Touring starts at 59,500 euros ($65,130) in Germany for the 75-kWh standard range version and 68,500 euros for the 100-kWh long-range version.
For reference, both versions of the ET5 Touring start at the same prices in China as the regular ET5, RMB 298,000 ($41,820) and RMB 356,000 respectively.
In the Netherlands, the starting price for the 75-kWh ET5 Touring is €63,900 ($69,930) and the 100-kWh version is €72,900.
They cost 706,000 SEK ($66,560) and 816,000 SEK in Sweden, 517,000 DKK ($75,950) and 637,000 DKK in Denmark, and 532,869 NOK ($50,740) and 620,619 NOK in Norway, respectively.
| NIO ET5 | Germany | Netherlands | Sweden | Denmark | Norway |
|---|---|---|---|---|---|
| 75-kWh | 59,500 EUR | 63,900 EUR | 706,000 SEK | 517,000 DKK | 532,869 NOK |
| 100-kWh | 68,500 EUR | 72,900 EUR | 816,000 SEK | 637,000 DKK | 620,619 NOK |
For the EL6, including the battery, the 75-kWh starts at €65,500 in Germany and €74,500 for the 100-kWh version. Because of the lawsuit with Audi, NIO's ES series models have been rebranded as the EL series in Europe.
The EL6 starts at €67,900 and €76,900 in the Netherlands, SEK 769,900 and SEK 879,000 in Sweden, DKK 547,000 and DKK 667,000 in Denmark, and NOK 595,016 and NOK 682,766 in Norway, respectively.
Including the battery, the starting price of the new 75-kWh ES6 in China is RMB 338,000, and RMB 396,000 for the 100-kWh version.
| NlO EL6 | Germany | Netherlands | Sweden | Denmark | Norway |
|---|---|---|---|---|---|
| 75-kWh | 65,500 EUR | 67,900 EUR | 769,000 SEK | 547,000 DKK | 595,016 NOK |
| 100-kWh | 74,500 EUR | 76,900 EUR | 879,000 SEK | 667,000 DKK | 682,766 NOK |
NIO has previously said that the base prices of its models are essentially the same globally, with the difference being that they take into account factors including transportation costs, local taxes and operating costs in different regions.
If consumers choose to purchase the ET5 Touring or EL6 using the BaaS (battery as a service) model, the starting price in Germany is €12,000 lower for the 75-kWh version and €21,000 lower for the 100-kWh version.
It is worth noting that NIO's battery swap stations in Europe are only available to owners of vehicles purchased using the BaaS model. In China, these stations are available to all NIO consumers whether they purchase a model with batteries included or based on the BaaS model.
In addition to the purchase option, NIO also offers a subscription option in Europe. In Germany, for the EL6, if consumers choose a fixed-term subscription of 36 months, the monthly price is €1,179 for the 75-kWh version and €1,309 for the 100-kWh version.
($1 = RMB 7.1264, $1 = EUR 0.9136)
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