Tesla Price Cut In China: Tesla also cut prices on its best-selling Model Y and Model 3 electric vehicles in Japan, South Korea and Australia.
Tesla cut electric car price in China for the second time in less than 3 months on Friday,stoking expectations for a wider price war for battery-powered vehicles in the world's largest auto market.
Tesla also cut prices on its best-selling Model Y and Model 3 electric vehicles in Japan, South Korea and Australia.
The coordinated price cuts were part of an effort to help stoke demand for Tesla's output at its Shanghai factory, the company's single largest production hub.
It was also the first major move by the electric vehicle maker since Tesla appointed its lead executive for China and Asia,Tom Zhu,who has been based in Shanghai,to oversee global output.
The latest cut in China, along with a price cut in October and incentives extended to Chinese buyers over the past three months, mean a 13% to 24% reduction in Tesla's prices from September.
The cuts came just days after Beijing ended a subsidy programme that helped build the world's largest EV market. Softening demand has forced Tesla and its rivals to absorb the brunt of that decision.