Tesla Motors Inc. will help Chinese buyers trade in their old cars if they buy a Model S, part of the automaker’s latest efforts to spur sales of its all-electric sedan in the world’s biggest vehicle market.
The electric-car manufacturer led by billionaire Elon Musk will liaise with used-car traders to buy vehicles from customers in Beijing, Shanghai and Hangzhou, it said in an e-mailed statement. The company will deduct the value of the sale from the price of the Model S, which starts from 648,000 yuan ($104,000) in China.
Tesla started delivering Model S sedans in China in April and Musk has said he expects to start building them in the nation within three to four years. The latest initiative follows Tesla’s announcement this month that Veronica Wu resigned as head of China operations after less than a year on the job.
The Palo Alto, California-based carmaker has nine stores and service centers in six Chinese cities and has tied up with companies including China Unicom and Soho China Ltd. to build charging stations in the country. It has 700 power points in 70 cities across China, making it the market with the biggest network after the U.S., Tesla said.
— With assistance by Tian Ying