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Tesla Motors (TSLA) Model X Goes Full Throttle in China

Tesla Inc stock flies on china deal Model X Falcon Wing Doors

Tesla Motors Inc. just launched the Model X 75D in China. It is the latest to join the Model X line-up in the country. The company plans to move strongly into the region, which has a growing appetite for luxury EVs and an expanding wealth-class. It also looks like the upped price of the luxury SUV in China has done very little to drop its demand there.

Tesla Motors Inc (TSLA) Model X
Image Source: Tesla Motors

New Model X in China

The 75D enters China as the new base model of the Model X range. The country got three of the EV’s higher-end siblings back in May. They were the Model X 90D, P90D and Signature Red P90D. The latter is a exceptionally fancy P90D that is exclusive to the Chinese market. As the name suggests, this version of the Model X comes coated in glossy red with brake calipers of the exact same finish. The company’s famous Ludicrous Mode Upgrade comes standard on this vehicle too. You get tinted windows as well, and a few other benefits.

There isn’t a single one that has been spotted though, reports say. China’s Signature Red Model X goes for a near crazy $225,000. Despite the standard higher going cost of Tesla EVs in the People’s Republic, that price seems too high for anyone’s taste right now.

High cost Tesla

Teslas cost significantly more in Asia than the rest of the world. China in particular has some pretty heft import taxes. Reports claim them to be more than 30 percent of the Tesla’s going price. All the additional costs of actually getting a Tesla  into China translate into their sales prices in the country. A standard Model S there, obtainable for about $71,000 in the U.S., goes for just over $100,000.

The latest Chinese Tesla addition is no exception to this either. In America, it sets buyers back just $83,000, which still seems rather steep until it’s compared the $125,000 it cost in China. Analysts believe this edition of the car will be among the most order in the region. It is identical to the editions saved for their lowered battery packs an all which that entails.

Powered by a 75kWh power pack, it can span a distance of 237 miles on a single charge, reach a max speeds of 130 miles an hour and can do 0-60 in six seconds. Its lowered price should compensate nicely for the high price of its more powerful versions.

Tesla moves in on Chinese wealth

The end of June saw the delivery of the first 6 Model Xs in the East Asian republic. Tesla likely wants to get the ball rolling rather quickly there. Numerous luxury EVs have cropped up in China, giving away the country’s thirst for futuristic and exclusive lifestyle. The lifestyle trends of the rising wealth-class in Asian capitals is adopting a more flash forward outlook.

Tesla would be smart in securing a foothold as well as more recognition in the continent before formidable rivals turn up. Securing a lead as one of the best-selling luxury EV brands in the region will score it some upped appeal and greater sales from the rising economy.

Tesla stock was at $213 per share mid-week.

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Adam Green is an experienced writer and fintech enthusiast. He he worked with LearnBonds.com since 2019 and covers a range of areas including: personal finance, savings, bonds and taxes.

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