On August 12th, according to the National Enterprise Credit Information Publicity System, Tesla established an insurance brokerage company on August 6th with a registered capital of RMB 50 million. The legal representative is Zhu Xiaotong, Tesla’s Vice President and Head of Greater China, and the business scope is insurance brokerage.
The company’s registered address is located on the second floor at No. 5000 Jiangshan Road, Lingang New Area, China (Shanghai) Pilot Free Trade Zone, which is also where Tesla’s Shanghai Super Factory is located. Tesla Hong Kong Limited holds 100% of the shares in the company.
Last year, Tesla took the lead in launching insurance business in California, which is 20%-30% cheaper than third-party insurance companies. With its advanced technology, safety and repairability of its own vehicles, Tesla Insurance Company can provide insurance services at a lower cost, highlighting Tesla’s active safety and the advantages of Tesla’s vehicle auxiliary functions.
In California, Tesla Insurance Company offers a convenient monthly payment method with no hidden fees. Customers can cancel or change their Tesla insurance policy at any time.
As for the specific business strategies of this insurance brokerage company in China, let’s wait and see.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.