model

Tesla Slashes China-Made Standard, Long Range Model 3 Prices



a close up of a car


© Provided by Benzinga



Tesla Inc (NASDAQ: TSLA) has cut prices of its domestically-made Model 3 vehicles in China.

What Happened: The Elon Musk-led electric vehicle maker’s Chinese website shows that the starting price of its Shanghai-made standard range Model 3 sedan has been reduced 8% to RMB 249,900 ($36,800) on a post-subsidy basis. The earlier price for Model 3 was RMB 271,550 ($39,990) after subsidies.

Loading...

Load Error

The price for local longer-range Model 3 electric car has also been slashed 11% from RMB 344,050 ($50,667) to RMB 309,900 ($45,638).

The standard range Model 3 sedans would now come with cheaper lithium iron phosphate (LFP) batteries rather than the nickel-cobalt-manganese (NMC) ones, people familiar with the matter told Reuters, which first reported the news.

Why It Matters: This is the third time the Palo Alto-based company has cut the price of its Model 3 range this year in China. Prices

Read More Read more
model

Tesla cuts starting price for China-made Model 3 cars by 8%

BEIJING (Reuters) – U.S. electric car maker Tesla TSLA.O cut the starting price of its Chinese-made Model 3 sedans on Thursday by about 8% to 249,900 yuan ($36,805), once Chinese subsidies for electric vehicles are taken into account, according to its China website.

Previously, the starting price for Model 3 sedans made in Tesla’s Shanghai factory with a standard driving range was 271,550 yuan, after state purchase subsidies.

Sources told Reuters that the standard range Model 3 sedans would now come with lithium iron phosphate (LFP) batteries which are cheaper than the nickel-cobalt-manganese (NMC) cells it used previously.

Tesla did not disclose what batteries the cheaper version uses.

The price for Model 3 vehicles with a longer range is now 309,900 yuan, down from 344,050 yuan.

Tesla started to deliver cars from the Shanghai factory in December, helping it save on shipping costs and tariffs for imported models.

Tesla sold

Read More Read more
model

Tesla to roll out China-made Model 3 cars with cobalt-free LFP batteries: sources

BEIJING (Reuters) – U.S. electric vehicle maker Tesla Inc is poised to start selling some Model 3 vehicles made in China equipped with cobalt-free lithium iron phosphate (LFP) batteries, two people familiar with the matter said.

Currently the Model 3 electric sedans made at the carmaker’s Chinese plant use nickel-manganese-cobalt (NMC) batteries. The starting price for the vehicles is currently 271,550 yuan ($39,900) after factoring in government subsidies.

Tesla will announce the product change as early as Thursday, the two sources said. They declined to be named as the matter is confidential.

Tesla was not immediately available for comment.

LFP batteries are cheaper to make and contain no cobalt, one of the most expensive metals used in electric vehicle batteries. Tesla will use LFP batteries in all Model 3 vehicles made in China with standard driving ranges, according to the sources.

In China, the world’s biggest car market, Tesla sold

Read More Read more