Tesla Cuts Prices in China for Select Model Y Versions

Reporter: Syamsul Ashar | Editor: Syamsul Azhar

KONTAN.CO.ID - BEIJING -  Tesla on Monday said it has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, sending its shares lower on concern of further pressure on its profit margins.

This marks the first time since January that Tesla has reduced its vehicle prices in China, although the U.S. electric carmaker has turned to other incentives to boost sales in the face of rising competition in recent months.