Tesla Referral Program Officially Begins

Tesla Motors Inc (NASDAQ: TSLA) announced in July 2015 that it planned on implementing a referral system in which both the owner of a Tesla vehicle and a referred client receive $1,000 in credit.

Tesla's 2016 referral program now consists of a $1,200 credit towards the installation of a home charger for Tesla's electric vehicles.

Related Link: Why Tesla Referrals Aren't A Bad Thing For The Stock

Clean Technica, a cleantech-focused news and analysis site, suggested that Tesla appears to be pushing consumers to install a home charging system rather than replying on public charging sytations, specifically Tesla-owned Supercharging stations.

As part of Tesla's referral promotion, current Tesla owners are also entering into a raffle to win a brand new Tesla Model X Ludicrous P90D and tours of Elon Musk's other enterprise, SpaceX.

Clean Technica also noted that the referral program applies only to Model S sedans and won't be accepted for Model X and future Model 3 purchases.

Shares of Tesla were trading higher by more than 5 percent on Monday at $175.35.