Tesla's latest insurance venture will reportedly be in China, said multiple news sources. (Photo: Shutterstock)
One year after Tesla launched its auto insurance in California, the company is expanding its business to China, reported multiple news sources.
According to China's National Enterprise Credit Information Publicity System, Tesla formed an insurance brokerage with a registered capital of 50 million yuan ($7.2 million) in Shanghai's Pilot Free Trade Zone, where the electric carmaker's Gigafactory 3 also is located. Additional details about the China venture are unknown.
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
