A secondhand auto manufacturer in China is looking to offer a guarantee for second-hands to its customers, and it is asking for $100,000 in cash in return for a second hand.
According to a report from China’s Xinhua News Agency, a company called Teslasu said it has a contract with Chinese authorities to offer its customers a second-handed car guarantee, which it said will be for a price of about $100 million, with the aim of encouraging car ownership.
The offer is the latest in a string of car deals that Teslasun signed with Chinese government officials.
Last year, Tesla agreed to supply its Model S sedan with a second car warranty, which is worth around $250,000.
And in 2018, Tesla partnered with a Chinese company to offer carmakers its latest models in a bid to boost sales in the country.
China is a key market for Tesla, which has been selling cars in the U.S. for about a decade.
And China is Tesla’s second largest market in the world, behind the U., where the company’s stock has surged more than 500 percent in the past decade.
The company has been expanding in China over the past several years, adding two new factories in China, and recently signing deals with two other auto makers.