Tesla hikes prices for Model 3, other cars in China

SHANGHAI: US electric vehicle maker Tesla Inc had raised prices for some vehicles in China as the yuan trades at its weakest levels in more than a decade.
The starting price for the Model X sport utility vehicle (SUV) is now 809,900 yuan ($114,186), versus 790,900 yuan previously, according to Tesla’s China website on Friday.
Its long-range dual-motor variants of mass-market Model 3 cars are now 439,900 yuan, up from 429,900 yuan previously.
The US-China trade frictions and a tit-for-tat tariff war between the countries has prompted Tesla, which currently imports all the cars it sells in China, to adjust its prices multiple times over the past year.
The latest hike comes as China allowed the yuan to weaken against the US dollar earlier this month, raising the cost of imports and prompting Washington to label China a currency manipulator. Beijing has strongly opposed the label. — Reuters