Tesla to cut car prices in US, China

27 May 2020 - 08:45 By Reuters
Tesla vehicles are parked at the company's assembly plant in Fremont, California, US. Tesla on Wednesday announced that it will be slashing the prices of its cars sold in America and China.
Tesla vehicles are parked at the company's assembly plant in Fremont, California, US. Tesla on Wednesday announced that it will be slashing the prices of its cars sold in America and China.
Image: David Paul Morris/Bloomberg via Getty Images

Tesla Inc said on Wednesday it will cut prices of its electric vehicles in North America as the firm ramps up car production at its Fremont, California, factory after the easing of coronavirus lockdowns.

The price cut comes after lockdowns during which demand for cars waned.

It was not immediately clear by how much Tesla was cutting its prices or when the cuts would take effect.

The company's Model S sedans will now be priced from $79,990 (roughly R1,39m), and its Model X sport utility vehicles from $84,990 (roughly R1,48m), according to its website. The cheapest Model 3 sedan will be priced at $37,990 (about R662,036), the website said.

Tesla said it will also cut prices in China, the company's usual practice after price adjustments in the US.

Tesla China said in a Weibo post it will cut prices for the Model S and Model X cars it imports, but keep prices of locally-made Model 3 cars unchanged.



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