Tesla Motors Inc. wants its Model S to qualify for China’s electric car subsidies that the government said will remain more valuable than initially planned, The Detroit News reports.
According to Ben Kallo of Robert W. Baird & Co. and Craig Irwin at Wedbush Securities Inc., China’s extension of incentives, which Tesla’s car doesn’t get as a U.S. import, nevertheless creates favorable conditions ahead of the start of Model S sales next month, the newspaper reports.
Tesla quadrupled in value last year. The company, based in began rising again last month after it said its shipments of Model S sedans in the fourth quarter of 2013 and revenue were 20% higher than it had expected.
Tesla’s Model S will be priced from 734,000 yuan, or $121,000, in China when deliveries begin, the company has said.
Source: The Detroit News
