Tesla Inc. has cut the price of its two higher-end Model Y vehicles in China by 14,000 yuan ($1,900) in the latest salvo in a bruising price war.
The electric vehicle maker cut the price of its Model Y Long-Range and Performance to 299,900 yuan and 349,900 yuan respectively, the company announced on Weibo. The Model Y forms part of the stable of vehicles, along with the Model 3, which are the best-sellers for Elon Musk’s company.
The latest cuts come after Tesla last year triggered a price war in China that left rivals with little choice to follow suit. Tesla’s China deliveries slumped 31% in July to the lowest level this year.
