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Tesla says cuts price for Model X, S in China

Editorial Bureau by Editorial Bureau
November 22, 2018
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Tesla says cuts price for Model X, S in China

A Tesla Model X is photographed alongside a Model S at a Tesla electric car dealership in Sydney, Australia, May 31, 2017. REUTERS/Jason Reed/File Photo

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BEIJING/SHANGHAI (Reuters) – Tesla Inc <TSLA.O> is cutting the price of its Model X and Model S cars in China by between 12-26 percent, the U.S. electric carmaker told Reuters on Thursday.

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The move comes amid rising trade tensions between China and the United States, which has seen extra tariffs slapped on U.S. imports into the country, including automobiles.

“We are absorbing a significant part of the tariff to help make our cars more affordable for customers in China,” Tesla said in a statement.

The firm, which recently launched pre-sales of its new Model 3 car in China, said the car’s pricetag would start from 540,000 yuan (60,967 pounds) for a dual motor all-wheel drive version, and 595,000 yuan for a performance version.

(Reporting by Yilei Sun and Adam Jourdan; editing by Darren Schuettler)

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