Tesla Cuts the Starting Price for Model 3 by 9% in China
- The 9% cut means cars start at 299,050 yuan after subsidies
- New price brings Tesla closer to Chinese electric-car rivals
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Tesla Inc. cut the starting price of its China-built Model 3 sedans by 9%, as it steps up efforts to lure customers in the world’s biggest electric-vehicle market after opening a factory on the outskirts of Shanghai.
The price was lowered to 323,800 yuan ($46,500) from 355,800 yuan. After subsidies from the Chinese government, prices start from 299,050 yuan, Tesla’s website showed. That puts the cars closer to some produced by domestic EV makers, such as Xpeng Motor’s latest P7 sedan, which starts at 240,000 yuan. NIO Inc.’s electrified SUVs start from as high as 358,000 yuan.