Elon Musk confirmed in an earnings call Wednesday that Tesla will cut the price of the Model 3 in China to meet the new eligibility for subsidies.
China’s State Council announced a two-year extension of the “new energy vehicle (NEV)” subsidy and tax exemption that would initially expire at the end of this year.
Jia Yueting recently sent a letter to more than 100 creditors to assure them of his convictions to pay back all debts accumulated from his founding company, Leshi Holding Group
On the morning of October 24, Tesla released the Q3 financial report for 2019. It shows that its profits reached $143 million, with the company’s per car revenue rate increasing by 22.8%.
NIO rescheduled its conference call for the second quarter (Q2) of 2019 on September 25, clarifying that the company only lost 22 billion yuan ($3.1 billion) instead of the rumored $5 billion.
Tesla Motors announces a new Technology Innovation Center in Beijing on July 12 as CEO Elon Musk concludes his three-day trip in China.