Tesla raises China-made Model 3 prices after EV subsidies cut

Technology

FILE PHOTO: Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photo

BEIJING (Reuters) – U.S. electric vehicle maker Tesla Inc raised prices for two China-made model 3 variants after authorities cut subsidies in the world’s biggest auto market.

China cut subsidies on electric vehicles, effective April 23, but will have a three-month transition period.

The starting price for the Shanghai-made Standard Range Model 3 sedans is 303,550 yuan after receiving subsidies, up from 299,050 yuan, while Long Range Model 3 cars, which Tesla plans to roll out from June this year, are now priced at 344,050 yuan versus 339,050 yuan earlier, a Tesla China company website shows.

Reporting by Yilei Sun and Brenda Goh; Editing by Muralikumar Anantharaman

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