August 12, 2020 (Beijing time), according to the China National Enterprise Credit Information Publicity System, Tesla has established an insurance brokerage limited company with a 50 million yuan register capital in China. The new insurance brokerage company's address matches the Tesla Gigafactory Shanghai location. And the company's business scope is indeed listed as an insurance brokerage.
In August 2019, Tesla introduced the "Tesla Insurance" service in the United States (via California for now) to provide very affordable rates to its vehicle owners:
"Starting today, we’re launching Tesla Insurance, a competitively priced insurance offering designed to provide Tesla owners with up to 20% lower rates, and in some cases as much as 30%. Tesla Insurance offers comprehensive coverage and claims management to support our customers in California, and it will expand to additional U.S. states in the future."
And now we’re excited to see that customers in China will also start to enjoy savings on their car insurance. Where will Tesla Insurance expand to next?