Tesla cuts price for long-range RWD Model 3

Tesla lowered the price for its Model 3 rear-wheel drive version in China by 3.7% to 259,500 yuan ($36,278.99), its website showed on Monday.

The U.S. automaker launched the new Model 3 variant, its longest-range Tesla model, in China last month.

The Model 3 long-range rear-wheel-drive version is renowned for its impressive range of 830 kilometers on a single charge and its acceleration capabilities, reaching 0-100 km/h in 5.2 seconds.

Despite this significant price cut, the starting price for the Model 3 remains at 235,500 yuan, while the prices for the higher-end versions, the long-range all-wheel-drive and performance all-wheel-drive versions, remain unchanged at 285,500 yuan and 339,500 yuan, respectively.

This price reduction is likely a strategic move by Tesla to maintain its competitive edge in the rapidly evolving electric vehicle market.

The intense competition from both new and established players has put pressure on Tesla to adapt and innovate.

Additionally, the recent launch of the Model Y L, a 6-seater SUV, further demonstrates Tesla’s efforts to diversify its product offerings and capture a larger market share.

The Model Y L, priced at 339,000 yuan, features a 6-seater layout and aims to compete with popular 6-seater electric SUVs. However, the Model Y L’s performance in terms of space and comfort has been criticized as not being on par with its competitors. Despite this, the Model Y L’s advanced three-motor system remains a strong selling point.