Tuesday, 6 Dec 2022

Tesla to cut price for Model X, S in China amid rising trade tensions

BEIJING/SHANGHAI (REUTERS) – Tesla Inc is cutting the price of its Model X and Model S cars in China by between 12 and 26 per cent, the US electric carmaker told Reuters on Thursday (Nov 22).

The move comes amid rising trade tensions between China and the United States, which has seen extra tariffs slapped on US imports into the country, including automobiles.

“We are absorbing a significant part of the tariff to help make our cars more affordable for customers in China,” Tesla said in a statement.

The firm, which recently launched pre-sales of its new Model 3 car in China, said the car’s price tag would start from 540,000 yuan (S$107,005) for a dual motor all-wheel drive version, and 595,000 yuan for a performance version.

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