Tesla releases refreshed Model 3 with longer driving range in China
Tesla on Friday unveiled a restyled, made-in-China Model 3 with a longer driving range, the first time the automaker has launched a new model in China ahead of the United States.
Tesla on Friday unveiled a restyled, made-in-China Model 3 with a longer driving range, the first time the automaker has launched a new model in China ahead of the United States.
The new model, which is being built at Tesla’s Shanghai plant, comes with a starting price 12% higher than the previous, base model in China. It will also be exported to other markets in Asia, Europe and the Middle East.
At the same time, Tesla cut the prices for its premium Model S and Model X by between about 14% and 21%, in China and the U.S., its two biggest markets.
Raising the base price on the Model 3, Tesla’s top-selling model after the Y, could help protect margins. But the price cuts for its higher-end models underscored the continued pressure EV makers face, especially in China where Tesla sparked a price war with Chinese rivals including industry leader BYD earlier this year.
The new Model 3 is Tesla’s first change to its mass-market car line-up since it launched its global best-seller, the Model Y, in 2020.
Rating: 5