TESLA RAISES CAR PRICES IN CHINA

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Added On July 11, 2018

 U.S. electric vehicle maker Tesla has  raised prices of its cars sold in China. The prices have been increased by up to more than 20,000 U.S. dollars.

Economy Report has more.
 
According to Tesla's official website, prices of the Model S and Model X have been increased by more than 20,000 U.S. dollars, making it one of the first U.S. carmakers to hike prices in the wake of rising trade tensions between China and the U.S..
 
Tesla has been banking heavily on China, the world's largest automotive market, to boost sales of its electric cars in the country.
 
It has set up a wholly-owned subsidiary in Shanghai, the latest effort to penetrate the Chinese market.
 
China contributed about 17 percent to Tesla's total revenue last year, and the electric car maker ships an estimated 15,000 cars a year to the country.