Tesla (TSLA) Reduces Model 3 Prices in China Effective Immediately

Tesla (NASDAQ: TSLA) announced today that the company will lower the price of the China-made Model 3s. The new price will be reduced 15,000 yuan ($2,323) to 235,900 yuan effective immediately.

"Tesla adheres to the principle of open and transparent pricing and will continue to bring customers a better quality product and experience," the company said in a statement.

This price adjustment makes the price difference between it and the Model 3 entry-level model in China very small.

Last week, Tesla increased Model 3 and Model Y prices again in the United States. The Model Y long-range version was adjusted to a starting price of $53,990 in the US, up $1,000 from the previous $52,990. The Model 3 Long Range price in the US was adjusted to $49,990, up $1,000 from the previous $48,990.

By Michael Elkins | [email protected]

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