Tesla registers insurance brokerage in China, national corporate database shows
) registered an insurance broking firm in China at the end of July, based on a national corporate information database, in a sign that the U.S. automaker may be trying again to gain approval to sell insurance products in the country.
Tesla had sought regulatory approval to sell insurance products in China more than three years ago when it had registered a company in 2020 but removed that registration in April this year. By selling insurance directly to consumers, Tesla could potentially offer lower-cost EV insurance products, which are usually more expensive than those for gasoline cars.China, Tesla's second largest market, has increased its support for the U.S. carmaker, which plans to build a data training centre and roll out its Full Self Driving software in the country this year, despite ongoing tensions with the United States over tech rivalry.
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