BEIJING -Tesla Inc has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, the company said in a notice on Monday.
The car company dropped the starting prices of both models by 14,000 yuan . The Model Y Long Range’s starting price drops 4.5 percent to 299,900 yuan and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8 percent.In the same announcement, Tesla also said it would offer insurance subsidies in China of 8,000 yuan for Model 3 buyers of entry-level, rear-wheel-drive versions of the Model 3 inventory vehicle between Aug. 14 and Sept. 30.
Last month Tesla CEO Elon Musk said further price cuts were a possibility, even if it squeezed the automaker’s margins.
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