To shift inventory prior to the end of the quarter, Tesla (TSLA) is implementing a sort of Kmart blue light promotion.
Tesla has been giving out three months of free charging at its Supercharger Network for Model 3 sedan orders, according to the company’s website.
Tesla’s Inventory Blitz
To qualify for the discount, the vehicles must be delivered by June 30 in the US and Canada.
There may be another motive for Tesla to reduce Model 3 inventories at this time, despite the company’s recent push to deliver as many cars as possible to increase its quarterly delivery numbers.
The long-rumored Project “Highland” update to the Model 3 is apparently under development, and it is anticipated that it will be unveiled soon.
Elon Musk, the company’s CEO, reportedly planned to introduce the improved Model 3 during his visit to China earlier this month.
After the federal government announced that all Model 3 trim levels were qualified for the full $7,500 electric vehicle tax credit, the free Supercharging promotion was announced.
Before, the standard Model 3 rear-wheel drive (RWD) only got half the credit, probably because of the location of the factories that made the battery’s essential materials.
Not just the Model 3 is eligible for a free Supercharging incentive from it.
For new sales of the more expensive Model S and Model X vehicles from the firm, Tesla is providing three years of free supercharging; delivery must occur by June 30.
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GM and Ford Partner Up, Stock Surges
Following two significant charging agreements, Tesla decided to give Supercharging incentives, potentially making the NACS (North American Charging Standard) connector the standard in the US.
The most recent agreement was announced late last week when General Motors (GM) joined forces with Tesla to use its Supercharger Network beginning in 2019. This will require the usage of an adapter.
The NACS connector from it is expected to be included in GM’s EVs by 2025, giving those vehicles immediate access to Tesla Superchargers.
The action by GM came two weeks after Ford (F) revealed a comparable alliance with Tesla to provide Ford vehicles access to Tesla’s charging infrastructure.
Coincidentally, Tesla’s stock has been on fire for the past two weeks; on Wednesday, a record 13-session winning streak came to a stop.
The market value of Tesla shares surged by a staggering $240 billion in that brief period.
Read more: Securing The Future Of EV Charging: White House Seeks Tesla Support
