Tesla's New Product: A $1,670 Electric Quad Bike For China

Tesla, Inc. TSLA reportedly plans to sell Cybertruck-inspired electric quad bikes targeted at children aged 8 – 12.

The bike will be priced at ¥ 11,990 ($1,670) and is expected to go on sale from Friday, reported Bloomberg.

The bike, Cyberquad, was first introduced as a concept in 2019.

It has a range of 13 kilometers (8 miles) and a battery life of 1.5 hours with a top speed of 8 kilometers an hour.

Also Read: Tesla's Shanghai Gigafactory Hits Major Milestone: One Millionth Model Y Rolls Off Production Line

China, the world's largest auto market, is a crucial ground for Tesla. The company has a factory in Shanghai that produces more than 50% of its global electric vehicle production.

Tesla China delivered 93,680 units of Giga Shanghai-made cars in June, an 18.72% increase Y/Y.

Price Action: TSLA shares are trading higher by 0.83% at $274.25 in premarket on the last check Thursday.