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☆ Tesla's easy ride in China may be coming to an end
▼ + stars: | 2024-05-09 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

Elon Musk appears focused on reinforcing Tesla's China business. AdvertisementTesla is facing tougher years ahead in the Chinese market, and it couldn't come at a worse time for the company. AdvertisementAfter years of steady growth in China, Tesla's sales are slippingTesla sold 62,167 cars in China in April, down 18% from a year ago, according to data released Tuesday by the China Passenger Car Association. Inexpensive Chinese cars are also competing with Tesla in important European and Scandinavian markets, a traditional stronghold for Musk. After his latest visit to the region, Musk appears to be sending reinforcements to the Chinese market.

Persons: Tesla, Elon Musk, —, Elon, BYD, China couldn't, Musk, Tom Zhu Organizations: Service, Elon Musk's, Shanghai Gigafactory, China Passenger Car Association, China, Tesla, BYD's, Ford, GM Locations: China, Shanghai, California, Mexico, Tesla's

☆ Tesla has a big competitor. And it is China’s BYD
▼ + stars: | 2024-04-03 | by ( Rosa Deacostanoya | Rosa De Acosta | ) edition.cnn.com time to read: +4 min

In 2023, Tesla sold around 230,000 more cars than BYD. That drop was big enough for Tesla, which sold 386,810 BEVs in the same period, to retake its former position despite posting plunging sales. Both Tesla and BYD are expanding beyond their home markets and investing in factories abroad. BYD sold about 3 million electric cars, including hybrids, in 2023 globally. By comparison, Tesla, which does not sell hybrids, delivered a total of 1.8 million vehicles worldwide last year, which was about 19% of the global market for BEVs.

Persons: Hong Kong CNN —, Wang Chuanfu, It’s, Murthy Grandhi, BYD, Tesla Organizations: Hong Kong CNN, Tesla, Toyota, French PSA Group, Fiat Chrysler Automobiles, Chrysler, Maserati, Peugeot, BMW, Ford, Benz, Ferrari, Yuan, Rho, BEVs Locations: China, Hong Kong, Shenzhen, London, United States, American, Shanghai, California, Canada, European

☆ China is teaching the likes of Apple and Tesla a very painful business lesson
▼ + stars: | 2024-03-11 | by ( Hasan Chowdhury | Lina Batarags | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In turn, sentiment toward Western business has soured. It's no wonder US companies that once banked on this being the "Chinese century" are having to learn a very painful lesson about doing business in China. According to The Wall Street Journal, a directive known as Document 79 is being ramped up to push out Western companies. AdvertisementHow Western companies respond will be closely watched, as China remains too valuable to lose a hold of.

Persons: —, Apple's, Tesla, Gene Munster, Wang Gang, Muster, BYD, It's, John Keeble, Li Qiang, Suzanne Clark Organizations: Service, Business, Research, Apple, Getty, Shanghai gigafactory, Bloomberg, China's Passenger Car Association, Deepwater Asset Management, Huawei, Volkswagen, Reuters, National People's Congress, Wall Street, US Chamber of Commerce Locations: China, Beijing, Shanghai

[1/2] California Governor Gavin Newsom speaks at an event for the second year of the Roybal School of Film and Television Production Magnet at the Edward R. Roybal Learning Center in Los Angeles, California, U.S., October 13, 2023. "As two of the world’s largest economies, our partnership is essential to delivering climate action for our communities and beyond," Newsom said in a statement on Wednesday. Newsom has been building up a national profile as a voice for stringent climate action, most recently gaining applause at the United Nation's Climate Ambition Summit last month for a speech railing against oil companies' climate policy obstruction. China, the world's largest methane emitter, has yet to release details of its planned methane reduction strategy despite encouragement from Kerry's team to do so. The governor also plans to tour Tesla’s Shanghai Gigafactory, which produces the largest number of electric vehicles in the world.

Persons: Gavin Newsom, Edward R, Mario Anzuoni, Gavin Newsom's, Janet Yellen, Antony Blinken, John Kerry, Gina Raimondo, Newsom, Kerry, Valerie Volcovici, Deborah Kyvrikosaios Organizations: California, Roybal, of Film, Learning, REUTERS, Rights, United, Ambition, Shanghai, Thomson Locations: Los Angeles , California, U.S, California, China, Beijing, Hong Kong, Shanghai, Jiangsu

☆ Tesla signs lease to open vast sales and service centre in Shanghai industrial park
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +1 min

A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song/File Photo Acquire Licensing RightsSHANGHAI, Oct 7 (Reuters) - Tesla (TSLA.O) has signed a leasing contract with Shanghai Waigaoqiao Free Trade Zone Group (600648.SS) to open a massive sales and service centre in an industrial park in the city, its biggest one in China, the government-owned company said. The company, the world's biggest electric car manufacturer, has nearly 300 stores across China. Reuters reported last year that it was considering closing some showrooms in flashy malls in cities like Beijing. Reporting by Zhang Yan and Brenda Goh; editing by Clelia OzielOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Aly, Elon Musk's, Zhang Yan, Brenda Goh, Clelia Organizations: Tesla Shanghai, REUTERS, Rights, Shanghai Waigaoqiao, Trade Zone Group, Reuters, Thomson Locations: Shanghai, China, Xin Park, Shanghai's Pudong, Beijing

☆ Turkish President Erdogan invites Elon Musk to build his next Tesla factory in Turkey
▼ + stars: | 2023-09-18 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Tom Williams | Cq-roll Call, Inc. | Getty ImagesTurkish President Recep Tayyip Erdogan invited Elon Musk to build his next Tesla factory in Turkey, the country's state media reported Monday. "Recalling that with the Turkish electric car Togg hitting the roads in Türkiye, Tesla entered the Turkish market, Erdogan called on Tesla to establish its seventh factory in Türkiye," Turkish state news agency Anadolu reported, citing the country's communications directorate. Musk replied that a number of Turkish suppliers are already working with Tesla and that Turkey "is among the most important candidates" for his next factory, Anadolu wrote. The department reports that of Turkey's manufacturing exports, 36% are medium-tech products and 3% are high-tech products. Anadolu Agency | Anadolu Agency | Getty Images

Persons: Elon Musk, Tesla, Tom Williams, Recep Tayyip Erdogan, Erdogan, Murat Kula, Teknofest, Musk, Malukas Organizations: Cq, Inc, Getty, Sunday, SpaceX, United Nations General Assembly, Turkish, UN, Anadolu, NEW, Elon, United Nations, Anadolu Agency, Getty Images, CNBC, Shanghai Gigafactory, Visual China, Manufacturing, Technology, U.S . Department of Commerce, AFP Locations: Turkey, New York, Manhattan, Turkish, Türkiye, United States, Anadolu, Shanghai, China, Mexico, India, Europe, Asia, Lithuania, Ukraine, Ankara, Turkiye

☆ Tesla stock falls after cutting prices in China again
▼ + stars: | 2023-08-15 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Tesla is back to cutting prices in China, and investors don’t seem happy about it. The manufacturer announced a significant discount for its Model Y in China on Monday, saying two models would be discounted by 14,000 yuan ($1,929) effective immediately. The price cuts, Tesla’s first since January, reflect rising competition in China, particularly within its fast-moving electric vehicle sector. Tesla slashed prices several times in China between October and January after losing market share. In May, the company had reversed course, hiking prices globally, with the biggest increase made in China.

Persons: Hong Kong CNN — Tesla, don’t, Tesla’s, ”, Warren Buffett, Tesla, Elon Musk Organizations: Hong Kong CNN, Tesla’s, HSBC, CNN, China Passenger Car Association, Tesla, Analysts Locations: Hong Kong, China, New York, Shanghai

☆ Tesla cuts prices again in China for Model Y, Model 3
▼ + stars: | 2023-08-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China May 31, 2023. Tesla has once again cut prices in mainland China, a competitive move that sent shares sliding as much as 3% in Monday morning trading. Two Chinese versions of Tesla's Model Y crossover, priced at 299,000 and 349,000 yuan, have been discounted by 14,000 yuan, or around $2,000. The Model 3 will have a "limited-time insurance subsidy" of 8,000 yuan, or around $1,100. Tesla cut prices multiple times throughout 2022 and 2023, in an effort to clear out inventory and grow deliveries, the closest approximation the company offers to sales.

Persons: Elon Musk, Tesla, Xpeng, CNBC's Hakyung Kim Locations: Beijing, China, Weibo, Shanghai

☆ Tesla is laying off a bunch of its Shanghai Gigafactory workers, weeks after Elon Musk visited and praised their hard work
▼ + stars: | 2023-07-07 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Tesla is laying off some staff at the Shanghai Gigafactory, Bloomberg reported. Tesla is laying off some staff at its Gigafactory in Shanghai, Bloomberg reported, five weeks after Elon Musk praised them. A video of the world's richest person giving a late-night speech to his Tesla staff was then shared by the Chinese state newspaper Global Times. Before leaving on a private jet back to the US, Musk also purchased burgers and soft drinks for 100 of the Gigafactory workers. Tesla workers then criticized Musk on Chinese social media, and some people even complained to his mom on Twitter.

Persons: Tesla, Elon Musk, Musk, It's, Musk's, who've Organizations: Shanghai Gigafactory, Bloomberg, Morning, Shanghai, Global Times, Reuters, China Passenger Car Association, CNN, Twitter Locations: Shanghai, China

☆ Elon Musk praises China's AI developments at state-backed conference sponsored by US-sanctioned companies
▼ + stars: | 2023-07-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk appeared via video link at the World AI Conference in Shanghai, per Bloomberg. The government-hosted conference is sponsored by Huawei and SenseTime – both sanctioned in the US. Elon Musk praised China's developments in AI as he discussed the technology at a government-backed conference on Thursday, Bloomberg reported. Musk appeared on screen at the World AI Conference in Shanghai, which is hosted by Chinese government ministries, per South China Morning Post. According to Reuters, Musk met with China's sixth highest-ranked leader, Vice Premier Ding Xuexiang — believed to be the first time he's met one-on-one with a foreign CEO.

Persons: Elon Musk, Musk, –, Ding Xuexiang —, he's, Vivek Ramaswamy, Tesla, Twitter Organizations: World AI Conference, Bloomberg, Huawei, SenseTime, Morning, China Morning, Amazon Web Services, IBM, Microsoft, Qualcomm, US, Shanghai, —, Reuters, Chinese Communist Party Locations: Shanghai, China, Xinjiang, Western China

☆ Tesla’s China deliveries account for more than half of global sales
▼ + stars: | 2023-07-05 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Tesla’s deliveries from its Shanghai factory more than doubled in the second quarter, accounting for over half of its record global sales, according to a Chinese trade group. In June, Tesla China reported wholesale deliveries of 93,680 vehicles, up 19% from the same period a year ago, preliminary data from the CPCA showed. The robust shipments from the Shanghai factory boosted Tesla’s global sales, sending its shares soaring. On Sunday, the company announced it delivered over 466,000 vehicles worldwide in the second quarter, the highest quarterly number on record. In terms of battery powered EVs, BYD sold 352,163 vehicles in the second quarter, outpacing Tesla China’s figure of just under 250,000.

Persons: Hong Kong CNN —, Tesla, Elon Musk, It’s, Warren Buffett, BYD, outpacing Tesla Organizations: Hong Kong CNN, CNN, China Passenger Car Association, Shanghai Gigafactory Locations: Hong Kong, Shanghai, Tesla China, China

☆ Tesla smashed it last quarter but China’s BYD did even better
▼ + stars: | 2023-07-03 | by ( Laura He | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —BYD outpaced Tesla in the second quarter as the Chinese carmaker posted record sales of hybrid and electric vehicles. Between April and June, BYD (BYDDF) sold more than 700,000 vehicles, almost double the number sold in the same quarter last year and setting a new quarterly record. Tesla and BYD are among the bestselling EV makers in the world. BYD still lags behind Tesla globally in terms of pure EV sales. In May, BYD sold around 119,000 pure EVs, more than double from the same period last year.

Persons: Hong Kong CNN — BYD, Warren Buffett, BYD, Shanghai Gigafactory Organizations: Hong Kong CNN, Tesla, China Association of Automobile Manufacturers Locations: Hong Kong, BYD, China, Shenzhen, Shanghai

Hong Kong CNN —Tesla CEO Elon Musk said Tuesday the company is looking to invest in India “as soon as humanly possible,” following a meeting with Indian Prime Minister Narendra Modi in New York. “[Modi] really cares about India because he’s pushing us to make significant investments in India, which is something we intend to do. “I am confident that Tesla will be in India and will do so as soon as humanly possible,” he said, without specifying a timeline. Back in 2017, the CEO said that Tesla (TSLA) was planning to sell cars in India as soon as that summer. Both China and India have been trying to attract global EV investment and boost the EV industry.

Persons: Hong Kong CNN —, Elon Musk, India “, Narendra Modi, “, Modi, ” Musk, ”, Musk, Tesla, ” Tesla, ” “, Xu Hongcai, Chen Jining Organizations: Hong Kong CNN, Indian, Reuters, EV, Communist Party Locations: Hong Kong, India, New York, Asia, Shanghai, The Shanghai, United States, China, Beijing

Electric vehicles drove that change. In the first quarter of 2023, Russians purchased more Chinese cars than Lada, the beloved Soviet-era marque. That helps Chinese manufacturers churn out an electric vehicle for around 10,000 euros less than European competitors, according to Grant Thornton. Among the growing list of unwelcoming policies, the European Commission’s trade defence unit is considering ways to stem the tide of Chinese electric vehicle imports, according to Politico. How far China’s carmakers can make inroads further West will be decided by much more than assessments of their competency.

Persons: Bill Russo, Nio, Grant Thornton, Bernstein, Emmanuel Macron, CATL, Una Galani, Thomas Shum Organizations: Reuters, HK, Volkswagen, World Trade Organization, International Energy Agency, Global Times, Beijing, Lada, Chery, Amperex Technology, Politico, Ford Motor, Toyota, Nissan, Twitter, Thomson Locations: HONG KONG, BYD, People’s Republic, Europe, China, Shanghai, Hong Kong, New York, Japan, London ., European, United States, North America, France, Thailand, West

☆ Tesla on track to match its longest winning streak on heels of GM charging deal
▼ + stars: | 2023-06-09 | by ( Lauren Feiner | ) www.cnbc.com time to read: +1 min

Elon Musk last visited China in 2020 for the delivery ceremony of the Model 3. Tesla's stock is on track to match its longest winning streak of 11 straight days in the green, should it end the day positive on Friday. The streak follows Tesla's Thursday announcement that General Motors would join Ford in using its electric vehicle charging network to charge their cars. The deals are considered a major win for Tesla because it could pressure other automakers and the U.S. government to adopt Tesla's charging technology. WATCH: Elon Musk checkmates automakers: Did Tesla corner the market on EV charging stations?

Persons: Elon Musk, Elon Organizations: Motors, Ford, Tesla, U.S, CNBC, YouTube, EV Locations: China, Shanghai

☆ Elon Musk says his Shanghai factory makes the ‘highest quality’ Teslas
▼ + stars: | 2023-06-02 | by ( Laura He | ) edition.cnn.com time to read: +4 min

It was the first time Musk has visited the country since January 2020, when a video of him dancing onstage at Tesla’s Shanghai factory went viral. Before leaving, Musk met Chen Jining, the Communist Party chief of Shanghai, according to a statement by the city government. Musk praised the success of Tesla’s Shanghai facility — which opened in 2019 — and said he was hoping to work more with the city in various areas, the statement said. In 2022, the company delivered 1.31 million vehicles globally, more than half of which were from Shanghai, according to its financial results. “Congratulations to Giga Shanghai & Tesla China SDS teams for their excellent work overcoming many obstacles over many years!!

Persons: Hong Kong CNN —, Elon Musk, Musk, Chen Jining, Chen, Tesla, —, Variflight, ”, “, ” Musk, “ It’s, ” “, Elon, Jade Gao, Qin Gang, didn’t, Zeng Yuqun Organizations: Hong Kong CNN, Communist Party, Beijing Capital International Airport, Getty, Financial Times, Twitter, Giga Shanghai, Tesla China SDS, EV, CNN Locations: Hong Kong, China, Shanghai, Shanghai’s Hongqiao, Beijing, AFP, United States, Weibo

☆ Musk's China visit ends with burgers for 100 Shanghai Tesla workers — and favor from Beijing as state-affiliated media showcases trip on Twitter
▼ + stars: | 2023-06-01 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Elon Musk's surprise trip to China ended with burgers and soft drinks for Tesla staff in Shanghai. His trip was showcased on Twitter by Chinese state media. Elon Musk completed his whistle-stop tour of China by treating workers at Tesla's Shanghai plant to burgers and soft drinks, with his visit being showcased on Twitter by China's state-affiliated media. A video published online by Tesla's China team, seen by Insider, showed Musk delivering a speech to a crowd of workers at his Shanghai plant. Elon Musk visited workers at Tesla's Shanghai gigafactory after first China trip in three years.

Persons: Elon Musk's, Elon Musk, Tesla's, China Grace Tao, Grace Tao, Weibo Musk, Jack Ma, Zeng Yuqun, Tesla, Musk Organizations: Twitter, Bloomberg, Tesla's, Global Times, Communist Party's, Shanghai gigafactory Locations: China, Shanghai, Tesla's China, Beijing

☆ Elon Musk wrapped up his first visit to China in years. Here's what the Tesla CEO was up to
▼ + stars: | 2023-06-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

His first visit in 3 years saw the Tesla CEO meet with top government officials and speak to staff at the Shanghai Gigafactory. Tesla opposes "decoupling" and is willing to continue to expand its business in China, the statement said. On Wednesday, Musk met with Jin Zhuanglong, China's minister of industry and information technology. On Thursday, Musk met with Chen Jining, the Shanghai party secretary. Musk visits the Shanghai Gigafactory

Persons: Elon Musk, Ding Ting, Musk, Qin Gang, Qin, Tesla, Jin Zhuanglong, Chen Jining, Tesla's, Chen, Ding Xuexiang, Ding, Xi Jinping, Xi, Zeng Yuqun, Zeng, CATL Organizations: Xinhua News Agency, Getty, Musk, Reuters, EV, CATL, CNBC, Bloomberg, Shanghai Locations: China, Shanghai, U.S

☆ Elon Musk told Chinese Tesla workers in a late night speech that their hard work 'warms my heart' — 6 weeks after some complained about bonus cuts
▼ + stars: | 2023-06-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

He told them their hard work "warms my heart" and is "very important" for the world. In a late night speech, Elon Musk told Tesla workers at the Shanghai Gigafactory that their hard work "warms my heart." "I just want to let you know, it warms my heart," Musk said, tapping his chest before a fist pump. Tesla workers then criticized Musk on Chinese social media, and some people even complained to his mom on Twitter. Musk told CNBC he sleeps around six hours a night, and according to Jimmy Soni's book "The Founders," Musk was "perpetually sleep-deprived" at his first startup, Zip2.

Persons: Elon Musk, It's, Musk, Shanghai Gigafactory, he's, Tesla, He's, Jimmy Soni's Organizations: Tesla's Shanghai Gigafactory, Shanghai, Global Times, Reuters, Twitter, San Francisco, CNBC, Bloomberg Locations: China, San José del Cabo, Mexico, Shanghai

☆ Elon Musk’s visit underscores China's importance to global EV market, analysts say
▼ + stars: | 2023-05-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

Xiaolu Chu | Getty Images News | Getty ImagesFrom handshakes with Chinese officials to visits to China's top ministries, Elon Musk's visit to Beijing is putting the spotlight on China's place in the global electric vehicle market. The Tesla CEO's visit to China is a "very important one" for him, said Anthony Sassine, senior investment strategist at investment manager Kraneshares. Price warsTesla slashed prices for its EV sales in China last October and January, but subsequently raised prices again in May. "It signals how important the China market is to defend and how important it is to your global system, you need the scale of China working for you," he said on CNBC's "Squawk Box Asia." He noted that China the most competitive market for EVs, with Tesla competing with multiple local companies for supremacy.

Persons: Xiaolu Chu, Elon Musk's, Tesla, Anthony Sassine, Sassine, CNBC's, Musk, Jamie Dimon, Bill Russo, Russo Organizations: Getty, Kraneshares, Communist Party, Musk, JPMorgan, U.S, EVs Locations: Shanghai, China, Beijing, U.S

☆ Tesla applies to expand Shanghai plant, add pouch battery cell output
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

May 16 (Reuters) - Tesla Inc (TSLA.O) has applied for regulatory clearance to expand its Shanghai plant and to begin producing for the first time pouch-type battery cells, albeit in small numbers. It was not clear how Tesla would use the pouch cells, which it has not previously used in its electric vehicles. Pouch cells, widely used in consumer electronics, differ from the cells Tesla has used for EVs in that the battery components are housed in a more flexible metal bag rather than a rigid cylinder. Tesla’s Shanghai plant, its largest worldwide, produced about 726,000 Model 3 and Model Y vehicles in 2022, more than half of the automaker’s global sales. Tesla is also seeking to ramp up production of cylindrical, 4680 battery cells in China and has brought in new suppliers to cut costs, Reuters has reported.

☆ Tesla to recall 1.1 million cars in China over potential safety risks, Chinese regulator says
▼ + stars: | 2023-05-12 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Tesla will recall more than 1.1 million cars in China due to potential safety risks, the country’s top market regulator said on Friday. The models to be recalled include imported Model S, Model X, Model 3 and China-made Model 3 and Model 6. An aerial view of Tesla's Shanghai Gigafactory on March 29, 2021. The company plans to make adjustments or add notification features to the recalled vehicles to reduce the risk, it added. In March, Tesla recalled more than 2,600 imported Model S cars in China, according to the SAMR.

☆ Tesla Shanghai: Social media protests over 'unfair' bonus cuts
▼ + stars: | 2023-04-17 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Workers at Tesla’s electric vehicle manufacturing plant in Shanghai are reportedly using social media to protest against what they call unfair cuts in performance-related pay and to ask CEO Elon Musk to intervene. Social media posts published over the weekend by people who say they work at the factory — the company’s main export hub — expressed anger over recently announced cuts in their monthly bonus pay. They said they were given news of the “significant” and “malicious” cuts after a fatal accident occurred at the Tesla (TSLA) facility in February. Just six months later, in November, the Shanghai factory set a fresh monthly delivery record of more than 100,000 vehicles. In 2022, Tesla delivered 1.31 million vehicles globally, more than half of which were from Shanghai, according to the company’s financial results.

☆ Tesla workers criticized Elon Musk online, and some people even complained to his mom, after performance bonuses were cut at its Shanghai factory
▼ + stars: | 2023-04-17 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Workers at Tesla's Shanghai Gigafactory were told about bonus cuts over the weekend, per Reuters. Some Tesla workers at the company's biggest factory are complaining to Elon Musk and his mom on social media, after bonuses were cut following a fatal accident, Reuters reported. "Please pay attention to the performance of frontline workers at Tesla's Shanghai factory being arbitrarily deducted," one account tweeted. Two factory workers told Reuters that supervisors mentioned a "safety incident" when asked why their quarterly performance bonuses had been cut. "Deducting the performance bonus, which should be related to workers' output and has nothing to do with work safety, is even more unfair," he said.

☆ Tesla Slashes Prices in China After Deliveries Slump
▼ + stars: | 2023-01-06 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

HONG KONG— Tesla Inc. made the steepest price cuts so far on its Model 3 and Model Y cars sold in China, after deliveries of its Shanghai-made cars plunged in December to cap a challenging year globally for the electric-vehicle maker. Prices for Tesla’s two most popular electric car models—made at its Shanghai gigafactory—will be reduced by between roughly 6% and 13%, the U.S. car maker said on Chinese social media Friday. Including the latest discounts, Model Y prices now start at the equivalent of around $37,000. The Model 3 starts at roughly $32,700, more than 30% cheaper than the price of a standard Model 3 selling on Tesla’s U.S. website.

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