Tesla to cut price of China’s long-range Model 3

Tesla will cut the price of its long-haul Model 3 in China in the coming days, with the current subsidy price at 344,050 yuan, Bloomberg reported. Earlier, on May 1, Tesla China announced a reduction in the price of the domestic standard battery version of the Model 3, the subsidy before the 291,800 yuan, after the subsidy price of 271,550 yuan. In addition, the first batch of Chinese production long-range after-drive Model 3 has been released ahead of schedule, will be delivered to consumers in the near future.

Tesla to cut price of China's long-range Model 3

According to a Tesla representative, the price cut applies to the locally produced Model 3 long-range version, with a price reduction of about Rmb20,000 ($2,818).

The price cut will make up for subsidies that will be eliminated later this year, meaning consumers will still buy the car for $344.05 million, the representative said.

In late April, it was reported that Tesla was considering cutting prices for the second time this year for some models in the Chinese market to continue to qualify for the tightening of government subsidies for electric vehicles.

On April 22nd a new subsidy policy was announced, and more than 300,000 new energy vehicles do not enjoy the subsidy policy, giving a three-month buffer period. The original price of the long-term version of model 3 is 366,550 yuan, the price of the subsidy is 344,050 yuan, if according to the subsidy scheme, meaning that after July 22, consumers will not be able to enjoy the subsidy, to 366,550 yuan to buy.

This time, Tesla offered to pay the difference in subsidies. By July 22, consumers will be paid 344,050 for the subsidy, and after July 22, Tesla will be able to cover the difference in the rebate, adding 225,000 to the original policy subsidy, which consumers will still buy at 344,050.