Benzinga - by Anan Ashraf, Benzinga Editor.
EV giant Tesla Inc. (NASDAQ:TSLA) is offering a unique incentive to Chinese customers: a chance to win a free tour of its Fremont factory in California.
What Happened: Customers who finalize their new vehicle deliveries between May 25 and June 30 will be entered into a draw.
Lucky winners will win a one-day trip to Tesla’s Fremont factory, according to a report from CnEVPost, which cited a Weibo post from the EV maker.
Tesla will cover the airfare and transportation costs to and from the factory, regardless of the winner’s location in China. The number of winners selected for the trip has not been disclosed. However, winners will need to obtain their own visas to visit the U.S.
Why It Matters: Tesla’s market share in China’s electric vehicle sector has seen a slight decline. According to the China Passenger Car Association (CPCA), Tesla’s share dropped from 7.8% in 2023 to 6.8% in the first four months of 2024. Additionally, April sales figures showed a year-over-year decrease of 18% for Tesla’s China-made EVs, with only 62,617 units sold (including exports).
The Fremont factory tour giveaway seems to be part of Tesla’s broader efforts to ramp up sales in China. Recent initiatives include price cuts on Model 3 and Model Y by up to 6% and free supercharging miles to select customers who order new Teslas between May 20 and June 20.
Trade War In The Air: The offer also comes amid the U.S. administration quadrupling tariffs on EV imports from China. Tesla CEO Elon Musk criticized the new tariffs, calling them a distortion of the market.
“Neither Tesla nor I asked for these tariffs; in fact, I was surprised when they were announced. Things that inhibit freedom of exchange or distort the market are not good,” Musk said.
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