Tesla to Raise Prices in China Earlier Than Planned
- Carmaker hit as currency’s drop reduces value of local sales
- Tesla set to start production at Chinese factory this year
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Tesla Inc. will raise vehicle prices in China this week, two people familiar with the matter said, a reaction to the trade war that weighs on the country’s currency and threatens to once again lead to higher import tariffs.
Price hikes that were originally planned for September will now take place this Friday, a sales representative and another Tesla employee said, asking not to be named as the increase hasn’t been announced. A spokesperson for the U.S.-based electric-car maker declined to comment.