Electric Vehicles

Tesla Blames Costs as it Lifts Prices of Cars in China, US

 

Tesla has raised the prices of some of its vehicles sold in China on Friday, a day after it lifted sticker prices in the US.

The price for the long-range version of the Model Y increased by 5% to 394,900 yuan, although unlike in the US, its Model 3 prices were unchanged.

The company raised prices for all its models in the US on Thursday, in response to persistent global supply chain problems and soaring raw material costs.

The Model 3 long-range version‘s sticker price increased by more than 3.5% to $57,990.

The Texas-based company blamed the increases on higher production and materials costs. Tesla car prices were last increased in the US in March.

 

  • Reuters, with additional editing by George Russell

This report was updated with further details and the headline amended on June 17, 2022.

 

READ MORE:

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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