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Tesla lowers prices in China over sales push in a growing market

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Date: 31st May 2019

Tesla Inc. made an announcement on Friday in which it said that it would sell it’s Model 3 vehicles for a price of 328,000 yuan or $47,529. Model 3 vehicles, which will be made China, will be sold at this price which is about 13 percent lower than the price at which the company imports.

The US-based electric vehicle maker has been in the process of building a factory in China. The first production at the factory would be of Model 3 vehicles. The company also announced that it will receive pre-orders of the vehicles starting from Friday.

Tesla will sell “standard range plus Model 3” for 49,000 yuan. While the price is already lower than that of the Chinese version of the vehicle, Tesla may also get subsidies from the government for electric vehicles. However, the provision of subsidies is unclear as of now.

In a press release, the company informed that the price range of Model 3 vehicles would be 328,000 yuan to 522,000 yuan. Besides that, the customers would have the vehicles delivered within 6 to 10 months.  

Tesla is doing its bit to make the vehicles more affordable. As per the statements, customers will have to deposit only 20,000 yuan. Buying options also include one with a monthly payment of 1,100 yuan.

The company claims that the decrease in the selling price of the vehicles is to make their products accessible to a wider range of customers.

While some models of the vehicle would be produced in the Asian country, the higher-end version would be dispatched from the United States for customers in the country.

Volkswagen announced last month it would spend $50 billion into the production of electric vehicle and would directly compete with Tesla

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