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Tariff War Prompts Tesla to Hike Prices 20% in China
Tesla Inc. has raises prices in China on its electric Model S sedan and Model X crossover vehicles by about 20%, according to local media reports.
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Tesla Inc. has raises prices in China on its electric Model S sedan and Model X crossover vehicles by about 20%, according to local media reports.
The hike is in response to China’s decision to raise tariffs on cars from the U.S. to 25%. China launched the tax as part of a package of retaliatory levies after the U.S. implemented 25% tariffs on $34 billion worth of imported Chinese goods on Friday.
Tesla’s increase brings retail prices in China for the cheapest Model S to 840,000 yuan ($127,000) from 710,000 yuan ($107,400) previously, The Nikkei reports.
Last year Tesla sold some 103,000 EVs worldwide, roughly 20,000 of them in China.
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