Tesla (TSLA) Owners Get $12K License Fee Waived in Shanghai

Tesla Motors (Nasdaq: TSLA) is on watch early following positive news out of China.

Bloomberg reported earlier that Shanghai is allowing Tesla owners to register for free. The city is waiving a $12,000 fee to do so.

Shanghai's effort comes as the city is aiming to promote adaptation of new-energy vehicles.

Tesla owners will also get an exemption in Hangzhou and the company is in contact for similar treatment in other Chinese cities.

Shares of Tesla are lower in early trading Wednesday.

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