EV giant Tesla Inc TSLA has raised prices for certain models in China for the for the second time in a week.
What happened: According to the company’s website, Tesla increased the prices of its Model S and Model X by 19,000 yuan, or about $2,750 in China. While the Model S now costs 808,900 yuan, Model X costs 898,900 yuan.
| model name | Current price (in yuan) |
| Model X | 898,900 |
| Model X Plaid Edition | 1,058,900 |
| Model S | 808,900 |
| Plaid Edition of the Model S | 1,028,900 |
Earlier this week, the EV maker raised prices in the US, China, Japan and Canada. In China, the Model 3 and Model Y were slightly priced up by 2,000 yuan, or about $290.
Why it matters: The new price increase comes after a series of price cuts that have helped fuel demand. Tesla’s price cuts in China began in October with price cuts averaging 9%.
Tesla delivered in March 76,663 Chinese-made vehicles in the country, an increase of 16.6% over the previous year 65,754 vehicles delivered in March 2022, according to data from the China Passenger Car Association (CPCA). April figures have not yet been released.
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