Tesla China made an official announcement on Friday through its verified Sina Weibo account, stating that the renowned electric vehicle manufacturer, Tesla (NASDAQ:TSLA), is currently providing a temporary incentive for the locally produced Model 3 in China.

From June 16th to 30th, Tesla has announced an exciting offer for customers in China who purchase and take delivery of the locally produced Model 3 RWD. During this limited-time period, eligible buyers will receive a subsidy of CNY 8,000 towards their insurance and have access to preferential interest rate loan options. This exclusive opportunity presents significant savings potential for individuals considering a Tesla purchase, as they can enjoy reduced upfront costs.

Tesla’s emphasis on “immediate delivery” makes this incentive unique, hinting that consumers do not have to wait for delivery cycles. This has led to speculation among industry watchers that Tesla may be clearing its inventory of domestically produced Model 3s in anticipation of a new model release.

Shares of TSLA are up 0.86% in mid-day trading on Friday.