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On Friday, Tesla said it had cut the starting price for China-made Model 3s by 10% to qualify for subsidies in the world’s largest auto market. This was reported by Autoblog.
Tesla, which began delivering electric vehicles from its $ 2 billion Shanghai plant in December, said in a statement that it lowered the starting price of its Standard Range Plus Model 3 sedans to 271,550 yuan ($ 38,463) after receiving subsidies. 20,250 yuan per car.
It is recalled that as early as 2015, China announced plans to discontinue the incentive to buy electric vehicles this year. However, in March, the country decided to extend the subsidies, which were already applied only to electric vehicles of less than 300,000 yuan.
Tesla’s premium rating should boost Model 3 sales in the sluggish Chinese economy, which is still struggling to recover from the global health crisis.
The aggressive calls of the CEO of the EE. The US, Ilon Musk, to restart business after the coronavirus has led some investors to wonder if the electric vehicle maker is as stable as first-quarter financial results suggest.
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