Tesla lowered the price of some vehicles in China on Monday, the first cut since the scrapping of a pledge from the US electric vehicle company and 15 Chinese carmakers to avoid “abnormal pricing”.
The company cut the price of the higher-end Model Y Long-Range and Performance models to Rmb299,900 ($41,640) and Rmb349,900, respectively.
It also offered a cash rebate of Rmb8,000 to Model 3 buyers who purchase insurance from the company’s partner insurers between certain dates, according to its official website.
Tesla China joined its local rivals in agreeing to combat “reckless” price-cutting at a conference in July. However, following a backlash, the industry body retracted the commitment just two days later, citing anti-monopoly law violations.