Tesla lures budget-conscious Chinese buyers with cheap loans ahead of state visit by Trump

Tesla China has launched a new financing scheme to attract more budget-conscious buyers after its sales in the world’s largest electric vehicle (EV) market fell behind its domestic rivals. The US carmaker said on Wednesday that the down payment for a Shanghai-made Model 3 vehicle – priced at 235,500 yuan (US$34,672) – would be slashed to 55,900 yuan from 79,900 yuan if the buyer chose a five-year car loan offered by Tesla. “Our strong products, combined with attractive incentives for car...

By Daniel Ren