Hyperdrive
Tesla Raises China Prices Again on Surging Demand, SCMP Says
A customer stands in front of Tesla Inc. Model X electric vehicle outside the automaker's dealership in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Tesla Inc. raised the prices of two Shanghai-made models for the second time in just over a month amid soaring Chinese demand, the South China Morning Post reported.
The carmaker announced on Friday a 3.9% increase in the price of its entry-level Model 3 to 265,652 yuan ($41,795) after subsidies, the paper said. The basic edition of the Model Y sport utility vehicle will see a 7.5% jump to 301,840 yuan and will cease to qualify for government subsidies for new energy vehicles below 300,000 yuan, according to the SCMP.