Xiaolu Chu
Tesla (NASDAQ:TSLA) is planning another price reduction for Model 3 and Model Y vehicles in China, according to local media.
The Hong Kong-based Hong Kong Economic Times said on Wednesday that the two models will see significant price cuts, with the Model 3 Performance edition seeing a 14.7% sticker price reduction, while the long range version of the Model 3 will see about an 11% discount. Model Y prices will be cut by about 9%, per the report.
The changes are slated to go into effect as of April 15, according to the outlet. Shares of Tesla (TSLA) dipped 1% in afternoon trading.
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