HONG KONG — Tesla Motors (TSLA) is offering a second-handed price guarantee to its customers, who can now buy the new Model 3 electric sedan at a price of HK$40,000 (US$36,600).
This is a significant shift from the Model S, which Tesla sold for HK$32,400 ($23,400) at the beginning of this year.
The Model 3 is now available for HK $40,400 at Tesla dealerships across the country.
In addition to the guarantee, the new car has also a limited-time offer of HK $10,000 ($8,800) for one week.
Tesla has already received more than HK$100 million in financing for the Model 3, but the company is not yet ready to announce its final cost.
After the initial sales push, Tesla will be ready to roll out a mass production model of the Model III by the end of 2019, the company has said.
Last week, Tesla CEO Elon Musk said the company was planning to produce 50,000 cars per month by 2020.
Since its launch in 2019, Tesla has made a name for itself as a leading car maker in China.
According to an October estimate from Edmunds.com, Tesla sold 4.2 million vehicles in the country during that same period, making it the world’s second-largest automaker.