U.S. electric car company Tesla announced Wednesday that it will lower the prices of imported Model S and Model X cars by 29,000 yuan (about 4,051 U.S. dollars) in China.
Tesla reduced the price of its made-in-China Standard Range Plus Model 3 in early May to less than 300,000 yuan to meet the government's new eligibility requirements for subsidies.
According to the company, Tesla will achieve a production rate of 4,000 cars per week in its Shanghai gigafactory by June, surpassing its designed capacity.
The Tesla Shanghai gigafactory resumed operation on Feb. 10 after the COVID-19 outbreak, among one of the earliest automakers to go back to work in China.
