UPDATE 1-Tesla's China-made Model 3 prices rise after EV subsidies cut [Reuters]
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Source: Reuters
UPDATE 1-Tesla's China-made Model 3 prices rise after EV subsidies cut (Adds background) BEIJING, April 24 (Reuters) - U.S. electric vehicle maker Tesla Inc’s prices for two China-made model 3 variants rose after authorities cut subsidies in the world’s biggest auto market. China cut subsidies on electric vehicles by 10% this year, effective April 23, but there will be a three-month transition period. After the adjustment, the starting price for the Shanghai-made Standard Range Model 3 sedans will rise to 303,550 yuan ($42,900) from 299,050 yuan, while Long Range Model 3 cars, which Tesla plans to roll out from June this year, will be priced at 344,050 yuan versus 339,050 yuan, a company website showed. Prices for those models before subsidies remain unchanged. Tesla, which started delivering cars from its $2 billion Shanghai factory last year, saw its China registrations rose to 12,709 units in March from 2,314 in February. The subsidies will apply only to passenger cars costing less
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