EV giant Tesla Inc TSLA has hiked the prices of its Model 3 and Model Y Long Range versions in China as per the company website by as much as 2,500 yuan.
What Happened: The price of the Model 3 Long Range in China has been raised by 1,500 yuan (approx. $206 USD), settling the vehicle at a new price point of 297,400 yuan. Similarly, the Model Y Long Range has witnessed a price surge of 2,500 yuan (approx. $344 USD), raising its starting price to 302,400 yuan.
|Older Price||New Starting Price|
|Model 3 Long Range||295,900 yuan||297,400 yuan|
|Model Y Long Range||299,900 yuan||302,400 yuan|
The prices of all other variants of the vehicles, as well as other Tesla models, remain unchanged on the company’s China website.
Why It Matters: Despite the price hike, the Model Y Long Range continues to be cheaper than Oct. 2022 when Tesla first started cutting prices in China.
Late last month, the performance version of the Model Y saw its price increase by 14,000 yuan. The price hikes on the Long Range are marginal in comparison.
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This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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