Tesla has cut prices again for its Model S and Model X in China, two weeks after the company slashed prices on its premium vehicles to boost sales in the world’s largest electric car market.
had pushed to boost sales in the world’s largest market for electric cars. The electric vehicle maker announced on Friday that it has lowered the starting price of the Model S from 754,900 yuan to 698,900 yuan. The price of the Model X was pushed down from 836,900 yuan to 738,000 yuan.
Tesla had already reduced the prices for the Model S and Model X in mid-August. The two higher-end models are not produced in China. Tesla has a factory in Shanghai that only makes the cheaper Model 3 and Model Y. Tesla’s Chinese competitors, Leapmotor and SAIC Volkswagen, also cut prices in August to boost sales amid intensifying competition.
By Bingyan Wang
BEIJING (Dow Jones)
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