Tesla cuts China prices after tariff drop on U.S.-made cars

Cars pass by the Tesla Inc. Gigafactory 2, which is also known as RiverBend, a joint venture with Panasonic to produce solar panels and roof tiles in Buffalo, New York, U.S., August 3, 2018. REUTERS/Brendan McDermid

BEIJING (Reuters) – Tesla Inc (TSLA.O) has cut prices on its Model S and Model X vehicles in China after Beijing suspended additional tariffs on U.S.-made cars.

According to the electric carmaker’s Chinese website, the price of certain Model S cars was cut by up to 105,000 yuan ($15,200), and Model Xs by up to 65,000 yuan. China’s finance ministry said on Friday it would suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019.

Reporting by Beijing Monitoring Desk and Adam Jourdan; Editing by Mark Potter

Tagged ,