Tesla's China-made Model 3 prices rise after EV subsidies cut

The starting price for the Shanghai-made Standard Range Tesla Model 3 sedans will rise to 303,550 yuan ($42,900) from 299,050 yuan.Long Range Model 3 cars, which Tesla plans to roll out from June this year, will be priced at 344,050 yuan versus 339,050 yuan.
By : Reuters
| Updated on: 24 Apr 2020, 15:12 PM
China has cut subsidies on new energy vehicles (NEV) by 10% this year. (File photo of Tesla Model 3) (AP)
China has cut subsidies on new energy vehicles (NEV) by 10% this year. (File photo of Tesla Model 3) (AP)
China has cut subsidies on new energy vehicles (NEV) by 10% this year. (File photo of Tesla Model 3) (AP)
China has cut subsidies on new energy vehicles (NEV) by 10% this year. (File photo of Tesla Model 3)

U.S. electric vehicle maker Tesla Inc's prices for two China-made Model 3 variants rose after authorities cut subsidies in the world's biggest auto market.

China cut subsidies on electric vehicles by 10% this year, effective April 23, but there will be a three-month transition period.

After the adjustment, the starting price for the Shanghai-made Standard Range Model 3 sedans will rise to 303,550 yuan ($42,900) from 299,050 yuan, while Long Range Model 3 cars, which Tesla plans to roll out from June this year, will be priced at 344,050 yuan versus 339,050 yuan, a company website showed.

Similar Cars

Find More Cars
Hyundai Kona Electric (HT Auto photo)
Hyundai Kona Electric
cc | Electric | Automatic
₹23.79 - 23.98 Lakhs**Ex-showroom price
Tesla Model S (HT Auto photo)
UPCOMING
Tesla Model S
Electric | Automatic
₹70 - 1 Cr* *Expected Price
Tesla Model 3 (HT Auto photo)
UPCOMING
Tesla Model 3
Electric | Automatic
₹70 - 90 Lakhs* *Expected Price
Tata Tigor Ev (HT Auto photo)
Tata Tigor Ev
Electric | Automatic
₹11.99 - 13.14 Lakhs**Ex-showroom price
Tata Altroz Ev (HT Auto photo)
UPCOMING
Tata Altroz Ev
 
₹12 - 15 Lakhs* *Expected Price
Tata Nexon Ev (HT Auto photo)
Tata Nexon Ev
Electric | Automatic
₹13.99 - 16.85 Lakhs**Ex-showroom price

Prices for those models before subsidies remain unchanged.

Tesla, which started delivering cars from its $2 billion Shanghai factory last year, saw its China registrations rise to 12,709 units in March from 2,314 in February.

FOLLOW US:Stay Updated with latest content - Subscribe us on
FOLLOW US:Stay Updated with latest content - Subscribe us on
China has spent billions of dollars subsidizing electrics in hopes of cleaning up China’s smog-choked cities.
China has spent billions of dollars subsidizing electrics in hopes of cleaning up China’s smog-choked cities.
China has spent billions of dollars subsidizing electrics in hopes of cleaning up China’s smog-choked cities.
China has spent billions of dollars subsidizing electrics in hopes of cleaning up China’s smog-choked cities.

The subsidies will apply only to passenger cars costing less than 300,000 yuan ($42,376) after the transition period. China will also in principle cut subsidies by 20% in 2021 and 30% in 2022.

(Also read: How plummeting oil prices are puncturing Tesla's savings claim on EVs)

Hit by the coronavirus epidemic, China's overall car sales fell 42% in the first three months compared with a year earlier. But the auto industry expects sales to recover as the government promises more supportive policies to boost consumption.

First Published Date: 24 Apr 2020, 15:12 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city