Tesla has reduced the price of the Model 3 in China and bump the range as it introduces lithium iron phosphate (LFP) batteries.
As we have previously reported, Tesla has been planning to update its made-in-China Model 3 vehicles with lithium iron phosphate (LFP) batteries from Chinese battery maker CATL.
CEO Elon Musk recently mentioned that he believes the energy density of LFP batteries have improved enough that it now makes sense to use the cheaper and cobalt-free batteries in its lower-end vehicles.
Furthermore, the use of LFP batteries also free-up more battery supply of other battery chemistry for Tesla’s other vehicle programs.
After obtaining authorization to build Model 3 with LFP batteries in China earlier this summer, we now learn that Tesla has made the switch and updated its Model 3 lineup in China:
Tesla updated its online Model 3 configurator with the following new prices after incentives: