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Tesla Offers 1 Year Of Free Supercharging To Bolster Year-End Deliveries: Report

Tesla Offers 1 Year Of Free Supercharging To Bolster Year-End Deliveries: Report

Tesla Inc (NASDAQ: TSLA) is offering a year of free supercharging in order to bolster sales as it pushes to achieve a record quarter in terms of deliveries, Electrek reported Sunday.

What Happened: The Elon Musk-led automaker has authorized its staff in North America to provide one year of free unlimited supercharging to undelivered Model 3 and Model Y vehicles, according to Electrek.

Effective Dec. 12, all undelivered Model 3 and Model Y vehicles, excluding Model 3 Standard Range, that deliver by Dec. 31, will receive one year of free supercharging, according to company communications seen by Electrek.

Why It Matters: Tesla has previously offered supercharging as a referral award and at times used the incentive to increase deliveries at the end of quarters, noted Electrek.

The Palo Alto-based automaker needs to make 181,000 deliveries in the current quarter in order to beat its previous record.

Tesla is in midst of its end-of-year delivery efforts as it aims to reach 500,000 deliveries in 2020.

Musk's company describes Superchargers as the “world’s fastest charging network” and has put out 20,000 such units globally as of last month.

Price Action: Tesla shares closed nearly 2.7% lower at $609.99 on Friday and fell 0.39% in the after-hours session.

Related Link: Tesla Opens 500th Supercharger In China, Xpeng Expands Its Counterpart Service To 20 Cities

Click here to check out Benzinga's EV Hub for the latest electric vehicles news.


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