NEW YORK (TheStreet) -- Tesla Motors'
(TSLA) Model S is finally coming to China and it's a lot cheaper than you might think.
In a blog post, Tesla announced the price of a premium 85 kWh Model S would be 734,000 CNY ($121,370), the same price as the $81,070 starting price in the United States, excluding taxes and fees.
Tesla noted if it was to follow standard industry practice, the Palo Alto, Calif.-based company could charge twice as much as it does in the United States. Tesla said it wants to "treat our Chinese customers just as well as we'd treat customers in any other country." Henceforth, it's keeping costs for Chinese consumers in check.
In addition to the $81,070 base price for the Model S, there are also certain charges, including $3,600 for shipping & handling, $19,000 for duties and taxes, and a $17,700 VAT (value added tax), making the total cost of the base model $121,370 for Chinese consumers.
A look on Tesla's Web site noted that Model S vehicles are still shipping with a fairly decent lag, with the performance 85 kWh battery getting priority delivery in one to two months. The other two models, the regular 85 kWh battery and the 60 kWh battery, have priority deliver in two to three months. The company seems to be slowly but surely working its way through its bottleneck of demand as Tesla has has been supply-constrained in the past, noting it can't make its cars fast enough.
Tesla pre-announced fourth-quarter results earlier this month, noting it delivered 6,900 Model S units during the fourth quarter, 20% more than its initial guidance.
--Written by Chris Ciaccia in New York
>Contact by Email.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV