Tesla Makes Fresh Price Cuts in China as Competition Heats Up
September 01 2023 - 01:09AM
Dow Jones News
By Bingyan Wang
Tesla has again cut prices for its Model S and Model X cars in
China, two weeks after having lowered the premium vehicles'
pricetags in a bid to boost sales in the world's biggest
electric-vehicle market.
The EV maker said Friday that it lowered the starting price of
the Model S to 698,900 yuan ($96,289) from CNY754,900, according to
a post on its official account on Chinese microblogging site Weibo.
It cut the price of the Model X to CNY738,000 from CNY836,900.
Tesla had previously slashed prices for the Model S and Model X
in mid-August. The two higher-end models aren't produced in China.
Tesla owns a factory in Shanghai which only produces the cheaper
Model 3 and Model Y.
Tesla's Chinese competitors, Leapmotor and SAIC Volkswagen, also
lowered prices in August in a bid to boost sales amid an
intensifying competition.
Write to Bingyan Wang at bingyan.wang@wsj.com
(END) Dow Jones Newswires
September 01, 2023 00:54 ET (04:54 GMT)
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