Tesla, Inc. TSLA has reportedly introduced a new incentive to promote car purchases to capitalize on China's auto consumption stimulus.
The EV giant is offering Chinese customers the chance to win a tour of its Giga Shanghai, reported CnEV Post.
The report, citing a post on Weibo, said that from now until December 3, those who order a new vehicle through the official trade-in program and take delivery within the contract period will be eligible.
Teslarati reports that ten winners will be selected for a special tour of Gigafactory Shanghai by December 3. Each winner can bring a friend and receive free round-trip airfare and one night's hotel accommodation.
In October, the gigafactory in Shanghai touched a new production milestone of 3 million cars.
Related: Tesla's Giga Shanghai Hits 3 Million Production Milestone, Celebrates With Red Model Rollout
Tesla had made the announcement via social media platform X.
"Giga Shanghai achieves 3 million production milestone," the company wrote with an adjoining image of the employees at the gigafactory in China celebrating the milestone with a red Tesla car in their midst.
Tesla China's Gigafactory Shanghai is the EV giant's largest by production volume, with an estimated annual output exceeding 950,000 vehicles, according to the third quarter 2024 Update Letter, Teslarati added. Giga Shanghai manufactures the Model 3 and Model Y for both the domestic Chinese market and international markets.
Meanwhile, Tesla has reportedly raised wages for all its employees at its gigafactory in Berlin. Reuters reported that the wage hike has been in effect since the start of November. The factory in Berlin employs nearly 12,000 staff.
The Berlin factory is Tesla's only in Europe. Its current installed annual vehicle capacity is over 375,000 Model Ys.
Price Action: TSLA shares are trading higher by 4.39% to $253.13 at the last check on Tuesday.
Read Next:
Photo by betto rodrigues on Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
