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
Tesla increased prices on certain models in China.

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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