Read previewTesla, eager to hold on to its market share in China, is amping up its price war against its Chinese rivals amid declining sales.
In China, Tesla has reduced the price of its Model 3, S, X, and Y by 14,000 yuan, or $1,930.
The Model Y now costs 249,900 yuan — yet another cut from its January price of 299,900 yuan.
Related storiesTesla CEO Elon Musk defended his company's pricing strategy on Sunday, writing on X that "Tesla prices must change frequently in order to match production with demand."
In fact, Musk went so far as to frame his Chinese rivals as an existential threat to all automakers.
Persons:
—, Tesla, Li, BYD, Elon Musk, Musk
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Service, Business, Li Auto, BI
Locations:
China