Tesla drastically cut the prices of its vehicles in China by more than 10 percent on Friday, marking the second time the electric vehicle (EV) maker has done so in less than three months.
While announcing prices for its Model S sedans and Model X sports utility vehicles, Tesla revealed that its Model 3 and Model Y EVs in China would be available for a reduced price.
According to the company’s official website, the starting price for the Model 3 has been reduced by 36,000 yuan ($5,240) to 229,900 yuan ($33,465).
Meanwhile, the Model Y has been slashed by 29,000 yuan ($4,220) to 259,900 yuan ($37,775). Tesla said its Model S Plaid will cost 789,900 yuan ($114,809), and the Model X Plaid will cost 879,900 yuan ($127,890)….