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Tesla raises price of Model 3 Long Range in China
Tesla has increased the price of its Model 3 Long Range in China by RMB 10,000 to RMB 285,500, citing upgrades that enhance range to 753 km and acceleration to 3.8 seconds. Meanwhile, the price of the Model Y remains unchanged despite improvements in its range. This pricing move follows the launch of Xiaomi's competitive electric SUV, YU7.
Key points
- Tesla upgraded the Model 3 Long Range, enhancing its range to 753 km and acceleration to 3.8 seconds.
- The price of the Model 3 Long Range increased by RMB 10,000 to RMB 285,500.
- The Model Y's price remains at RMB 313,500 despite similar improvements in driving range.
- Xiaomi launched its electric SUV, YU7, claiming it outperforms Tesla's models at a lower price.
Why it matters
- The increase in Tesla's prices is influenced by emerging competition in the EV sector, notably from companies like Xiaomi.
- The trend of automotive companies enhancing vehicle performance while adjusting pricing is reflective of the broader competitive landscape expected in 2025.
Tesla's price adjustments in response to enhanced features and competition from Xiaomi highlight the evolving dynamics in the electric vehicle market in China.