Chief executive officer Elon Musk(pic) is counting on the multibillion-dollar Shanghai plant, Tesla’s first factory outside the US, to give it an edge over the likes of BMW AG and Daimler AG, which are also targeting China with new EV models.Chief executive officer Elon Musk is counting on the multibillion-dollar Shanghai plant, Tesla’s first factory outside the US, to give it an edge over the likes of BMW AG and Daimler AG, which are also targeting China with new EV models.
SHANGHAI: Tesla Inc is considering cutting the price of its China-built Model 3 sedans by 20% or more next year, people familiar with the plans said, betting the move will lure buyers as the world’s biggest electric-vehicle (EV) market slows.
Tesla aimed to bring down costs by using more local components, allowing it to import fewer parts and avoid tariffs, the people said, asking not to be identified as the matter isn’t public.
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