Tesla slashes Model 3 and Model Y prices in China

Tesla’s Chinese website is offering the Model 3 sedan for a starting price of 265,900 renminbi including government subsidies, a 5 percent reduction. The Model Y sport utility vehicle was advertised at 288,900 renminbi, a 9 percent cut.

In China, Tesla faces competition from domestic companies like BYD, SAIC Motor and Nio, which are also pushing into the European market with more affordable electric vehicles.

[Via]

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