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Tesla Inc. has cut the price of its two higher-end Model Y vehicles in China by RMB 14,000 ($1,900) in the latest salvo in a bruising price war, reports Bloomberg. The electric vehicle maker cut the price of its Model Y Long-Range and Performance to RMB 299,900 and RMB 349,900 respectively, the company announced on…
These price cuts, totaling 14,000 yuan ( $1,900), reflect the ongoing fierce competition in the EV sector.
Reacting to steep price cuts announced by Tesla for the two high-end versions of its made-in-China Model Y EVs, the stock is pulling back.
Tesla has renewed its price war in China just days after its biggest rival in the country vowed to “demolish” Western rivals.
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