Tesla to reduce price of standard range Model 3 in China

Tesla said it will reduce the price of its standard range Model 3 vehicle in China to meet the government’s new eligibility requirements fo...

Tesla said it will reduce the price of its standard range Model 3 vehicle in China to meet the government’s new eligibility requirements for subsidies.

This marks the second time this year that the automaker has reduced the price. Several months ago, the base version of China-made Model 3 was lowered by 9%.

Tesla has to cut the price of the vehicle to continue to qualify for government rebates on electric vehicles. The Chinese government instituted new regulations that require prices below 300,000 yuan for electric vehicles to qualify for subsidies.

The base price of the standard range Model 3 made in China is 323,800 yuan, or $45,754 before subsidies.

The price reduction will go into effect tomorrow in China, Tesla CEO Elon Musk said in a earnings call Wednesday. Musk, who didn’t provide a specific figure, said he is confident the vehicle will deliver a gross margin despite the reduction in price.

Tesla chief financial officer Zachary Kirkhorn added that the cost of vehicles produced at its Shanghai factory in the first quarter is already lower than the cost to produce the Model 3 in the United States. That margin should improve as the company improves its local supply chain in China. Tesla still ships some parts from the U.S. to build cars at its Shanghai factory.



from TechCrunch https://ift.tt/2zDbW6d
via IFTTT

COMMENTS

BLOGGER
Name

Apps,3858,Business,151,Camera,1155,Earn $$$,3,Gadgets,1741,Games,926,GTA,1,Innovations,3,Mobile,1697,Paid Promotions,5,Promotions,5,Sports,1,Technology,8106,Trailers,796,Travel,37,Trending,4,Trendly News,25335,TrendlyNews,188,Video,5,XIAOMI,13,YouTube - 9to5Google,187,
ltr
item
Trendly News | #ListenNow #Everyday #100ShortNews #TopTrendings #PopularNews #Reviews #TrendlyNews: Tesla to reduce price of standard range Model 3 in China
Tesla to reduce price of standard range Model 3 in China
http://feeds.feedburner.com/~ff/Techcrunch?d=2mJPEYqXBVI
Trendly News | #ListenNow #Everyday #100ShortNews #TopTrendings #PopularNews #Reviews #TrendlyNews
http://www.trendlynews.in/2020/04/tesla-to-reduce-price-of-standard-range.html
http://www.trendlynews.in/
http://www.trendlynews.in/
http://www.trendlynews.in/2020/04/tesla-to-reduce-price-of-standard-range.html
true
3372890392287038985
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy