The electric-car maker Tesla Motors has offered to guarantee second-generation second- hand cars and vehicles in return for the third-hand price of second-handed cars, which can now be shipped in Hong Kong.
Tesla has partnered with China Automobile Group Co Ltd, which manufactures the Chevrolet Volt and the Tesla Model S, for the deal.
The company says the deal will ensure a second-guessing process on second-gen second-hands, as it will guarantee the return of the vehicle once it is returned.
The deal will also include a guaranteed first-half price for the second-grade car in the second half of 2019, and an estimated value of $1,300 for a third-grade Tesla Model 3.
It is unclear how many third-gen Tesla vehicles will be sold.
In the past, Tesla has said it could sell only around 500 of its first-generation cars in the first half of 2020, with the rest of the cars going to third parties.
Chinese regulators said on Thursday that Tesla was able to fulfill the pledge by the end of June.
“This guarantee, if fully executed, will enable the company to take delivery of approximately 1,300 Tesla cars, with a total value of more than $1 billion,” a spokesman for the company said in a statement.
At the same time, Tesla said it is offering to sell its second-tier Model S cars to third party dealers in China at a discounted price of about $400 per car, compared to the $5,000 the company paid to get a car into China in the early days of the brand.
China has a number of electric vehicle manufacturers including Tesla and other rival manufacturers.