Home QRIX Auto QRIX Gadgets QRIX Flights QRIX Hotels QRIX Shopping Web Hosting Filmybaap Contact Us Advertise More From Zordo

Tesla finds buyers in Chinese state-owned companies after approval

1 week ago 12

Tesla Gigafactory Shanghai

Tesla has already found a few buyers in Chinese state-owned companies after official government approval.

Earlier this week, we reported that the provincial Jiangsu government approved the Tesla Model Y made in China as a government vehicle, meaning that state–owned companies could purchase it as a business vehicle.

This is a big deal because state-owned companies are a big part of the economy in China.

Now, we learn that several companies have already bought Tesla Model Ys since the recent approval (via CNEV Post):

State-owned enterprises, including Chengtou Xinggang Group and Lingang Investment Holding Group, have recently purchased a number of Tesla Model Y vehicles for corporate use, Lingang investment promotion service center said in a statement today.

Lingang, which develops industrial parks, said that it wanted to promote equal treatment of domestic and foreign enterprises in government procurement activities.

This comes amid a tariff war between China and the rest of the world over electric vehicles.

Several markets, including the US, Europe, and soon Canada, are implementing tariffs on Chinese electric cars in fear that they will take over their markets and negatively affect local production of electric vehicles.

Tesla is in a unique position as a foreign automaker in China as it was able to build a solely owned vehicle factory in the country without having to partner with a state-owned company.

It enabled the American automaker to build its highest producing plant in the world in Shanghai, China.

FTC: We use income earning auto affiliate links. More.

Read Entire Article