Chinese consumers are lucky since they will be getting the Model 3 at reduced prices.
On Friday, U.S. electric vehicle giant Tesla Inc stated, it will now commence taking orders lower-priced version of the Model 3 sedan in China. Tesla is looking to accelerate its sales in China after being hit by the U.S.-China trade war.
In a statement, Tesla said, Chinese customers will be allowed to place orders for a long range, rear-wheel-drive Model 3 variant whose starting price will commence at $64,300.56 (433,000 yuan), as against its earlier price tag of 499,000 yuans.
Earlier this year, Tesla had stated, it plans to start delivering Model 3 cars to customers in China in March.
By localizing the production of the Model 3 sedan, Tesla is seeking to minimize the impact of the trade war, which so far has forced it to adjust prices of its U.S.-made cars in China.
For Tesla it is very important to keep prices in check, as it will help fend off competition from a swathe of Chinese electric vehicle startups, which includes XPeng Motors, Nio Inc and Byton.