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Tesla Announces Price Drop in China, Entry-Level EV Now 6% Cheaper
Tesla Motors, Inc. +4.10%
Tesla Motors, Inc. TSLA | 477.77 | +4.10% |
EV giant Tesla Inc (NASDAQ:TSLA) has cut the prices on its cheapest vehicle in China by as much as 6% while also cutting prices on its best-selling SUV.
What Happened: According to the Tesla website, the Model 3 rear-wheel drive is now priced at 15,500 yuan (about $2,183) lower at 245,900 yuan while its long-range version is priced at 285,900 yuan.
The company also cut prices on select versions of its Model Y SUV by as much as 2.8%. While the rear-wheel drive version is now priced at 7,500 yuan (about $1,056) lower at 258,900 yuan, the long-range version is priced at 299,900 yuan.
The price of the Performance edition of the Model Y, however, remains unchanged at 363,900 yuan.
| Model | Older Starting Price (In Yuan) | Current Starting Price (In Yuan) |
| Model 3 RWD | 261,400 | 245,900 |
| Model 3 Long Range | 297,400 | 285,900 |
| Model Y RWD | 266,400 | 258,900 |
| Model Y Long Range | 306,400 | 299,900 |
Photo by Koshiro K on Shutterstock.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
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