Tesla has announced a new price discount, with an 8,000 CNY insurance subsidy for the entire Model 3 lineup, effective today in China.

Additionally, the offer includes a five-year zero-interest financing option. Notably, this is the first time Tesla's insurance subsidy has covered all Model 3 variants.

The limited-time promotion is available from February 5 to 28 and is eligible only for an insurance plan offered by a Tesla-qualified insurer.

The subsidy can be applied on a custom order, existing factory cars, show cars, and test drive cars.

Offering an insurance subsidy, similar to zero-interest financing, enables Tesla to further boost demand without impacting its official pricing.

Tesla’s five-year interest-free financing will also end on February 28 for both the Model 3 and Model Y, both produced at the Shanghai Gigafactory.

With a down payment of 79,900 CNY, monthly installments are as low as 2,460 CNY per month for the RWD and 3,127 CNY for the long-range AWD version

With the insurance subsidy, the rear-wheel drive starts at 227,500 CNY, long-range all-wheel drive at 267,500 CNY, and the performance all-wheel drive 331,500 CNY.

On January 10, alongside the Model Y “Juniper” debut, Tesla launched an upgraded Model 3 RWD variant priced at 235,500 CNY, an increase of 3,600 CNY compared to the previous model.

The upgraded Model 3 offered an improved CLTC range of 28 km, from 606 km to 634 km.

The battery was upgraded with a 62.5 kWh LFP battery from CATL (previously 60 kWh).