Tesla cuts prices again for Model S and Model X cars in China


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

This article was originally published by Marketwatch.com. Read the original article here.

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