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Tesla lowers prices for Model S, Model X in China

Hu Yumo
The electric carmaker is slashing 29,000 yuan off the sticker of its flagship sedan and sport-utility vehicle. Prices for China-made Model 3s will remain unchanged.
Hu Yumo

US electric carmaker Tesla said it will lower prices of Model S and Model X vehicles in China, but China-made Model 3 prices will remain unchanged.

Tesla said the price cuts of Model S and Model X vehicles follow its decision to lower prices in North America. Prices of Model S and Model X vehicles will be reduced by 29,000 yuan (US$4,051), which is around 4 percent of the original price.

On Wednesday, Tesla's website showed that the starting prices for its Model S sedan and Model X sport-utility vehicle are now 764,900 yuan and 780,900 yuan respectively.

For China-made Model 3 vehicles, prices remain unchanged. In order to respond to the country's new-energy vehicle subsidy policy, Tesla already lowered its Model 3 prices in China in early May.

After the earlier adjustment, the current price for the Model 3 Standard Range Plus is 271,550 yuan, with the subsidy. Model 3 Long Range and Performance versions are 344,050 yuan and 419,800 yuan respectively, with the subsidy.

In April, Tesla said its Shanghai factory continued to achieve record levels of production in the first quarter, despite significant setbacks due to the COVID-19 outbreak. Tesla said it produced almost 103,000 vehicles and delivered approximately 88,400 globally during the quarter. The company credited the work of its Shanghai team for helping to achieve these results.

Tesla delivered its first China-made Model 3s in early January.

Tesla also said it will further deepen its commitment to Chinese market. Tesla has more than 50 direct-operation experience centers and showrooms as well as 43 service centers in China. 

In 2020, Tesla plans to deploy more than 4,000 superchargers in China and ramp up installations of its V3 supercharger to provide an efficient charging service system for Chinese consumers.

Tesla sold 3,635 vehicles in China in April, a decline of 64 percent year on year, according to data from the China Passenger Car Association. The electric carmaker sold 10,160 vehicles in China in March, its highest monthly sales volume after entering the Chinese market. Overall passenger car sales in April were down 2.6 percent from a year earlier.

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