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Tesla China extends Model 3, Model Y zero interest loan offer to end of Q3

(Credit: Tesla Asia/X)

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Tesla China has quietly announced that its popular zero-interest rate promotion for the Giga Shanghai-made Model 3 and Model Y has been extended to the end of September. Customers who wish to take advantage of the promotion must order and take delivery of their vehicles before September 30, 2024, the final day of the third quarter

A look at Tesla China’s order pages for the Model 3 and Model Y shows that the zero-interest loan offer is available for loan periods of up to five years. With the incentive in place, the reengineered Model 3 could be acquired for as low as RMB 2,533 ($355) per month, and the Model Y could be acquired for as low as RMB 2,833 ($397) per month with an RMB 79,900 ($11,220) downpayment. 

As per Tesla China, the zero-interest promotion for the Model 3 and Model Y is for purchases of the base Model 3 Rear Wheel Drive (RWD), Model 3 Long Range Dual Motor All Wheel Drive (AWD), Model Y RWD, and Model Y Long Range Dual Motor AWD. The Model 3 Performance and Model Y Performance are not included in the zero-interest loan promotion. 

Customers who do not wish to take advantage of Tesla China’s zero-interest loan offer could opt for a low-downpayment plan instead. This means paying a low downpayment of RMB 45,900 ($6,450) for the Model 3 or Model Y and getting an annual fee rate that’s as low as 0.5%, which is equivalent to an annualized interest rate of 0.92% for a 1-5 year loan. 

As of writing, the Giga Shanghai-made Model 3 RWD and AWD are listed with an estimated wait time of 3-5 weeks, while the Model Y RWD and AWD are listed with an estimated wait time of 1-3 weeks, as per Tesla China’s official website. 

Tesla China is about to enter the final month of the third quarter, a period that typically sees the electric vehicle maker focusing on meeting vehicle orders from the domestic market. The presence of promotions such as a zero-interest loan offer could provide Tesla China with a healthy number of orders from local customers as Q3 2024 comes to a close. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla top exec Tom Zhu highlights Elon Musk’s “prime directive” for FSD

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Credit: Tesla AI/X

Tesla Senior Vice President for Automotive Tom Zhu, a key executive behind the company’s success in China and Giga Texas, recently highlighted the “prime directive” of Full Self-Driving (FSD).

Zhu’s comments emphasize Tesla’s uncompromising focus on safety, which has made the company’s vehicles among the safest on the road.

Echoing Musk’s vision for safe autonomous driving

Zhu’s post quoted Musk’s statement from 2021, where the CEO reportedly stated that FSD must avoid accidents even if the most ridiculous events happened in the middle of the road. Zhu stated that beyond everything, Tesla’s systems like Autopilot and FSD are designed to keep passengers safe.

“Elon said it in 2021: “For self-driving, even if the road is painted completely wrong and a UFO lands in the middle of the road, the car still cannot crash and still needs to do the right thing. The prime directive for the autopilot system is: Don’t crash. That really overrides everything. No matter what the lines say or how the road is done, the thing that needs to happen is minimizing the probability of impact while getting you to your destination conveniently and comfortably,” Zhu stated.

“The prime directive, the absolute priority, is to minimize the probability of injury to yourself or to anyone on the road, to pedestrians, or anything like that. It can’t be dependent on the road markings being correct.”

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Tesla leadership rallies behind global FSD rollout

Tom Zhu, who previously led Tesla China through its record-breaking growth phase, now oversees automotive operations worldwide. He has reportedly become a problem solver for Elon Musk over the years, with previous reports stating that he was brought in to help Giga Texas optimize its vehicle production ramp.

Zhu’s comments may sound ambitious, but FSD has proven that it values safety above all else over the years. This was highlighted recently in an incident in Australia, when a Model Y was hit by what could very well be a meteor. Despite the impact and part of its windshield melting, the vehicle was able to drive safely and keep its passengers safe.

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Elon Musk’s biggest tech rival just canceled his Tesla Roadster

“I really was excited for the car! And I understand delays. But 7.5 years has felt like a long time to wait,” Altman said.

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Tesla Roadster at Tesla Battery Day 2020 Credit: @BLKMDL3 | Twitter

Elon Musk’s biggest tech rival just canceled his reservation for a Tesla Roadster, the supercar the company has been developing for nearly eight years.

Sam Altman, the CEO of OpenAI, announced on X on Thursday evening that he canceled his Tesla Roadster reservation, or at least is trying to:

Altman placed his Tesla Roadster reservation with a $50,000 deposit way back on July 11, 2018. However, he recently decided that he had waited long enough and decided to email the company to officially cancel the order.

“Hi, I’d like to cancel my reservation. Could you please refund me the $50k?” Altman emails to reservations@tesla.com.

He then received an immediate response, but not from Tesla. Instead, it was a bounce-back message from Google, stating that the message could not be delivered to the email because it was not active.

Altman then provided a reason for his cancellation, and it was not related to the intense rivalry he had with Elon Musk:

“I really was excited for the car! And I understand delays. But 7.5 years has felt like a long time to wait.”

Altman and Musk have a lengthy history with one another that dates back to 2015, when OpenAI was created. The feud has resulted in lawsuits over breaching founding agreements by prioritizing profits.

Musk has been especially critical in recent years because of Altman’s decision to turn OpenAI into a for-profit business that he says is “built on a lie.”

This year, Musk offered over $97 billion to buy OpenAI, and a judge blocked his request to stop the company from being converted into a for-profit in March.

OpenAI then countersued Musk in April, while xAI, Musk’s company, sued OpenAI for allegedly stealing secrets through poached employees in September.

Elon Musk explains why xAI sued OpenAI over alleged trade secret theft

Regarding the Roadster, Tesla has been developing it for several years and has delayed its release for five consecutive years. The company says it will have a demo of what it has changed since it was unveiled in 2017 later this year, but no date has been set quite yet.

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Neuralink’s first human patient reflects on 21 months with brain implant “Eve”

He credited Neuralink and Elon Musk for giving him “the opportunity to be the first,” as the experience has been life-changing.

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Credit: Neuralink

Nolan Arbaugh, the first person to receive Neuralink’s brain implant, shared his 21-month update this week, reflecting on how far he’s come since his groundbreaking surgery. 

Arbaugh, who became paralyzed after a diving accident, stated that his Neuralink implant, which he fondly calls “Eve,” continues to transform his daily life.

Arbaugh celebrates Neuralink’s progress

In his post on X, Arbaugh revealed that his hands-on involvement with Neuralink has decreased as more participants have joined the program. “The team might call me to test something once in a blue moon,” he wrote, adding that he’s happy to see others experience the technology’s full potential, from operating robotic arms to typing on keyboards with thought alone.

He credited Neuralink and Elon Musk for giving him “the opportunity to be the first,” as the experience has been life-changing. Despite a recent pressure sore that temporarily kept him bedridden, Arbaugh noted that he is still very optimistic, describing his journey as one of resilience, faith, and gratitude. He also teased “big news” coming for his two-year update in early 2026.

Studies and a growing public speaking career 

These days, Arbaugh stated that he is focused on his studies in neuroscience, taking full-semester courses in chemistry, biology, and pre-calculus while earning top grades. He credited “Eve” for making school possible again, as his current academic workload would have been “impossible without Neuralink.” Arbaugh stated that he has also begun building a speaking business after delivering a paid talk at Fortune’s Brainstorm Tech conference.

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“At the beginning of September I attended the Fortune Brainstorm Tech conference in Park City, Utah, as a paid speaker. That sentence seemed like an impossibility two years ago. But it’s just the beginning. My business is built, my legal is near complete, I’m surrounding myself with a team of amazing folks, and I plan on speaking once or twice a month in the same fashion beginning as soon as January. 

“Conferences, interviews, podcasts—you name it, and I want to be there spreading the word about how amazing this technology is, the growth it’s experiencing, the possibilities of the future, and how it has so deeply affected my life,” Arbaugh stated.

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