We learned from a domestic enterprise information query website that Tesla established Tesla Insurance Brokers Co., Ltd. in China on August 6 with a registered capital of 50 million yuan. The company’s registered legal person is Zhu Xiaotong, Tesla’s global vice president and head of Greater China, and its business scope is insurance brokerage.
Although Tesla currently uses a direct sales model, the after-sales vehicle insurance business is currently still provided by third-party insurance companies for car owners. The establishment of insurance brokers company may mean that Tesla will develop insurance business in the country, thereby developing new profit models, and bringing competitive insurance services to car owners while promoting the sales of its models.
It is understood that Tesla has launched an insurance business in the United States. The service adopts a very novel pricing model. Tesla CEO Musk once said that the company’s insurance business will be more compelling than any other product in the field.