Sources say Tesla will cut the price of its domestic Model 3, or $249,000, using the Ningde-era battery.

Some people say that the price of a Tesla car is like a roller coaster, today a price, tomorrow is a price, so many old owners claim to have been cut “the leeks.” In recent days, however, Tesla has once again caused a stir among netizens because of its price cuts. Tesla will begin selling Model 3 cars made in Shanghai and equipped with lithium phosphate batteries to Chinese customers on Thursday, sources said.

Although the price has not yet been announced, lithium iron phosphate batteries do not contain nickel and cobalt, two of the most expensive components in conventional NMC or nickel-manganese cobalt batteries, meaning the price of Model 3 could soon fall.

According to the news on the social platform, rumors are that the current price adjustment for the domestic Tesla Model 3 is as follows:

1, the standard battery life upgrade model, the price may be reduced from the current 2918 million to 249,000;

2, long-range rear-wheel-drive version of the model, the price may be reduced from the current 3441 million to 30.9 million.

Sources say Tesla will cut the price of its domestic Model 3, or $249,000, using the Ningde-era battery.

The current cheapest domestic Model 3, sold for 291,800 yuan before the subsidy. This compares with a $428,000 reduction in the starting price of the new Model 3.

Notably, the news on the social platform did not mention whether the $419,800 Performance high-performance model would be cut in price.

So far, Both Ningde And Tesla and Tesla have declined to comment.

Previously, the domestic Model 3 equipped with lithium iron phosphate battery has been declared, the vehicle’s comprehensive operating range from 445km to 468km.

Sources say Tesla will cut the price of its domestic Model 3, or $249,000, using the Ningde-era battery.

Since the Ningde era has signed a mass-production supply agreement with Tesla, we expect that the lithium iron phosphate batteries used in the Model 3 will be supplied by the Ningde era.

In Addition, in June, Ningde Time announced that it was ready to start producing cobalt-free batteries, which are about 10 percent cheaper than conventional NMC batteries and have a service life of up to 2 million kilometers.

“If someone places an order, we’re ready to produce,” said Zeng Yuqun, chief executive of the Ningde era. But he did not say whether a contract for long-distance products had been signed. He said the cost of lithium iron phosphate batteries was expected to be about 10 per cent lower than that of NMC batteries.

If true, lithium cobalt-free iron phosphate batteries will help make Tesla more competitive in the Chinese market.