BEIJING : Tesla on Friday said it would offer new buyers of its top-selling electric vehicles in China a cash bonus equivalent to almost $500 if they have a referral from an existing owner, deepening a price war in the world's largest market for EVs.
Since the start of the year, when it touched off a price war in China's EV market, Tesla has cut the base price of the Model 3 sedan in China by 14 per cent and by 10 per cent for the Model Y, its global best seller. Tesla announced the cash rebates Friday on its Weibo account. It is continuing an earlier offer announced in June of 7,000-yuan rebates to buyers of its more expensive Model S and Model X vehicles in China.
Tesla's sales of cars produced in Shanghai in the second quarter accounted for over half of its global deliveries.