BEIJING: U.S. electric vehicle maker Tesla Inc's prices for two China-made model 3 variants rose after authorities cut subsidies in the world's biggest auto market.
China cut subsidies on electric vehicles by 10% this year, effective April 23, but there will be a three-month transition period.
After the adjustment, the starting price for the Shanghai-made Standard Range Model 3 sedans will rise to 303,550 yuan ($42,900) from 299,050 yuan, while Long Range Model 3 cars, which Tesla plans to roll out from June this year, will be priced at 344,050 yuan versus 339,050 yuan, a company website showed.
Prices for those models before subsidies remain unchanged. Tesla, which started delivering cars from its $2 billion Shanghai factory last year,