Skip to content
Technology
Hyperdrive

Tesla Revamps China Marketing Strategy as Rivals Lure Customers

  • EV maker offering insurance subsidies after recent price cuts
  • Shares have slumped to two-year low amid China headwinds
Customers at a Tesla showroom in Shanghai.

Customers at a Tesla showroom in Shanghai.

Photographer: Qilai Shen/Bloomberg
From

Tesla Inc. is changing its marketing approach in China as fierce competition from domestic rivals and uneven demand puts its growth plans in the world’s biggest electric-car market at risk. 

The EV pioneer has extended insurance subsidies of as much as 8,000 yuan ($1,100) for new buyers, according to a post on its Weibo account, reinstated a user referral program and even advertised on a local TV shopping channel -- a rare move for a company that’s proudly eschewed traditional advertising avenues.