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Tesla considers cutting price of China built cars next year
Published on: 2019-12-26
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032Tesla Inc. is considering cutting the price of its China-built Model 3 sedans by 20 percent or more next year, people familiar with the plans said, betting the move will lure buyers as the world’s biggest electric-vehicle market slows.

030031Tesla aims to bring down costs by using more local components, allowing it to import fewer parts and avoid tariffs, the people said, asking not to be identified as the matter isn’t public. Prices of the cars, which will be built in Tesla’s new Shanghai factory and start at 355800 yuan ($50800), will probably be lowered from the second half of 2020, they said.

033Chief Executive Officer Elon Musk is counting on the multibillion-dollar Shanghai plant, Tesla’s first factory outside the US, to give it an edge over the likes of BMW AG and Daimler AG, which are also targeting China with new EV models. The move would also pressure local incumbents such as NIO Inc. and Xpeng Motors to follow suit with price cuts.

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