China recently saw Tesla Model X entering its car market, and the vehicles will be ready for delivery at the end of the month.
Customers may choose between three models: the Model X P90D, the Model X 90D, and the Signature Red edition Model X P90D that is available only in China.
Unfortunately, China's market will not get the base Model X 75D, but the lineup might get expanded in the future.
The prices of the vehicles are as follows. The 90D costs 961,000 Yuan, the P90D has a price point of 1.15 million Yuan, while the Signature Red jumps to a staggering 1.47 million Yuan.
In plain American currency, that means Chinese customers have to shell out the equivalent of $147,000, $176,000 and $225,000, respectively, for the aforementioned Model X Tesla cars. To put it in perspective, Tesla charges $95,500 for the 90D and $115,500 for the P90D in its home market, so that's quite a difference.
Note that Chinese customers must deposit 100,000 Yuan ($15,340) when they reserve a Model X.
Should you wonder about the huge difference in pricing, read on.
For one thing, import taxes are quite hefty in China, making up about 33 percent of the final price. For another, Chinese green car enthusiasts are willing to spend a good dime for Tesla's vehicles, especially the Model X. This has to do with the immense popularity of SUVs in China.
Although the Model X faces strong competition from the likes of the Mercedes-Benz GLE, BMW X5, Porsche Cayenne, Range Rover Sport, Audi Q7, Volvo XC90, and Volkswagen Touareg, the electric car is preferred by more and more global customers.
The first to get behind the Model X's wheel will be clients from Beijing and Shanghai, followed by the rest of the country.
Tesla opened up a number of new stores in the country during the last year, reaching a total of 18. Four of these are located in Shanghai, four in Beijing, and one in Hong Kong. In January 2015, Tesla had 10 stores in China.
The automaker also boosted its supercharger station numbers, from 59 in 2015 to 98 at the present date.
Tesla CEO Elon Musk stated his interest in expanding manufacturing capacity in China, but the process might take a few years due to strict regulatory rules in the country. Should the carmaker build Model X cars in China, their price could see a significant drop.