Trademark squatter an obstacle for Tesla Motors

The planned expansion of Tesla Motors Inc into the local market is being blocked by a Chinese person that currently holds its trademark, according to US media.

The US manufacturer of luxury electric autos is encountering the same problem Apple faced two years ago, when the tech giant was forced to pay Shenzhen Proview Technology $60 million to release control over the trademark for the iPad.

Tesla Motors CEO Elon Musk has offered 2 million yuan ($326,600) to buy the trademark from Zhan Baosheng, but Zhan is asking for 100 times that price, according to US-based automobile industry website Autoblog.com.