Tesla Cuts Price of Model 3 Sedan in China by 8%

For the past several years, Tesla CEO Elon Musk has promised to offer a more affordable electric vehicle worth $ 35,000. However, as the cost of electric vehicle batteries has risen, it has not been able to do so since the Model 3 was introduced to the company's mass-market in July 2017. However, as electric vehicle battery technology improves, California automaker Tesla is approaching this goal, in China. At least, which is the largest auto market in the world. Now Tesla has lowered the price of the Chinese Model 3 made in China by 8%. Tesla's China website now shows the initial price of the standard-range 3-sedan concept car at 249,900 yuan ($ 36,805), after the implementation of Chinese subsidies for electric cars. The day before, the starting price of the Model 3 was 271,550 yuan ($ 39,990) after subsidies.