Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022.
Tesla has cut prices by nearly $2,000 across its models in China, after price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against cheaper Chinese EVs.
Tesla made similar cuts to the Model Y starting price, now 249,900 yuan, the regular version of the Model S to 684,900 yuan and the Model S Plaid to 814,900 yuan.
The carmaker on Friday cut U.S. prices of its Model Y, Model X and Model S vehicles by $2,000.
Tesla reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.
Persons:
Tesla, Narendra Modi, Musk
Organizations:
Elon Musk's, Model, Plaid, Reuters
Locations:
Gruenheide, Germany, China, United States, India