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How Chinese EVs are ramping up competition: No down payment and 5-year interest-free loans

CNBC
Summary
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87% Informative

Electric car companies in China welcomed the Year of the Snake with incentives for consumers.

On Wednesday , the first post-holiday official working day, Tesla announced an 8,000 yuan insurance subsidy and five-year 0% interest financing plan for its cheapest car, the Model 3 .

Chinese startup Xpeng on Wednesday did away with the down payment completely in its interest-free financing deal for four models.

VR Score

91

Informative language

92

Neutral language

55

Article tone

formal

Language

English

Language complexity

55

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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