SHANGHAI: Tesla Inc made another round of price cuts on its Model 3 and Y electric vehicles (EVs) in China on Friday, while also introducing its higher-end Model S sedan and Model X to get a better hold on the premium end of the world’s biggest EV market.
The starting price for the locally built Model Y sports utility vehicle has been slashed to 259,900 yuan (US$37,875) from 288,900 yuan, according to the company’s Chinese website. That’s a record low for China and 43% cheaper than the $65,900 starting price listed on Tesla’s US website. The Model 3 goes to 229,900 yuan from 265,900 yuan, about 30% cheaper than in the US.
