07:23 AM EST, 12/02/2024 (MT Newswires) -- Tesla (TSLA) and rival EV makers have launched end-of-the-year discounts and incentives in China to meet annual sales targets, Bloomberg reported Monday, citing company communications.

Tesla is offering five-year interest-free loans and a 10,000 yuan ($1,375) discount on the Model Y sport-utility vehicle until December 31, Bloomberg reported, citing a posting on Weibo.

Li Auto ( LI ) has offered three-year interest-free loans, Bloomberg reported.

Zeekr Intelligent Technology ( ZK ) has launched a 15-day campaign through which customers can get three-year interest-free loans and other incentives worth tens of thousands of yuan, the report said.

BYD is offering 1,000 yuan to 3,000 yuan discounts on some models, the report said.

Tesla did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)