Tesla Motors Wants in on China's EV Subsidies
February 12, 2014 10:37 AM
comment(s) - last by
It doesn't qualify because the Model S is an American import
The Detroit News
, Tesla Motors acknowledged that its Model S doesn't qualify for China's EV subsidies because it's an American import, but that won't stop the automaker from trying.
“We understand we don’t qualify for direct subsidies,” said Diarmuid O’Connell, Tesla’s VP of Business Development. “We’re hoping the government will consider the role Tesla can have in catalyzing electric vehicle adoption in China and extend those incentives to Model S as well."
The Model S will be sold in China starting next month, and subsidies for EVs will reportedly be cut much further than previously planned. Even though Tesla isn't eligible for the subsidies, it's a good start for potentially increased EV adoption.
China’s finance ministry said that subsidies would only be cut 5 percent this year, as opposed to 10 percent. In 2015, subsidies will be cut by another 10 percent as opposed to a previously planned 20 percent.
Tesla Model S
Tesla has some big plans for China, as CEO Elon Musk recently said that China might match the U.S. in volume "as early as next year."
Tesla has proven time and time again that being the small guy in the auto race doesn't mean coming in last. The automaker's value quadrupled last year (TSLA is currently
hovering around $196/share
) and its Q4 shipments of the Model S were 20 percent higher than expected.
In May 2013, Tesla repaid its $465 million loan from the U.S. Department of Energy (DOE)
nine years earlier
than expected from the original 2022 due date.
Last month, the automaker addressed a huge anxiety for potential EV drivers: electric range. It announced that Model S drivers could now
drive from coast to coast
without any doubt that they can find a Supercharger plenty of places in between.
Tesla even scheduled a road trip from Los Angeles to New York from January 31 through February 2, where Model S drivers proved a road trip can be done in the Model S in addition to mere daily commutes.
The Detroit News
This article is over a month old, voting and posting comments is disabled
RE: good move
2/12/2014 11:26:05 PM
Wow! You STILL don't get it.
And China's air quality problem is big ass smokestacks dumping billions of tons of industrial-grade pollutants into the air. NOT automotive exhaust. Wtf man? Tesla's in China wouldn't even make a dent in their pollution problem.
RE: good move
2/14/2014 5:27:39 AM
Yes, vehicle exhaust is a concern. You also ignored the more important point of China needing huge oil imports, and they aren't even at half the vehicle ownership of US/Europe. They're expected to purchase 30% of global new auto sales by 2020. How are they going to keep fueling that?
Tesla isn't going to make a dent next year, but a few years down the road, Tesla, Renault-Nissan, VW, and other foreign companies will be selling (and maybe building) more EVs there than in the US.
"This is about the Internet. Everything on the Internet is encrypted. This is not a BlackBerry-only issue. If they can't deal with the Internet, they should shut it off." -- RIM co-CEO Michael Lazaridis
Tesla Relieves Model S Drivers of Road Trip Anxiety with Coast to Coast Superchargers
January 27, 2014, 10:34 AM
Tesla Repays $465 Million DOE Loan 9 Years Early
May 22, 2013, 10:20 PM
Report: 2015 Ford Focus Electric MSRP Slashed by $6,000, Will Retail for $29,995
October 18, 2014, 6:23 PM
Chevrolet Sonic EV to Have 200-mile Range, Debut in 2017
October 10, 2014, 12:01 PM
Auto Start-Stop Systems Will be Installed on Nearly 60% of New Vehicles by 2020
October 8, 2014, 4:19 PM
Volvo XC90 to Receive Triple-turbocharged, 450hp 2.0-liter Four-cylinder Engine
October 7, 2014, 2:29 PM
Nissan Still Trying to Make a Profit on Leaf EV
October 6, 2014, 5:46 PM
Quick Note: Photo of Tesla’s Model S P85D Shows Up Online
October 3, 2014, 9:48 AM
Most Popular Articles
Google Launches "Same-day Delivery" Subscription Service for $95/year
October 14, 2014, 10:37 AM
Google Announces Android 5.0 “Lollipop”, Nexus 9 Tablet, and Nexus 6 “Phablet”
October 15, 2014, 12:41 PM
Ireland to Close Loophole Apple and Google Used to Evade EU Taxes
October 13, 2014, 10:45 PM
Update: Motorola Droid Turbo Coming Oct 28, 48-hour Battery Life Confirmed
October 19, 2014, 9:19 PM
Samsung Develops 802.11 AD Wi-Fi, But Will it be Sunk by Poor Penetration?
October 14, 2014, 4:30 PM
Latest Blog Posts
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information