Tesla cuts China prices after tariff drop on US-made cars

Reuters | Published: December 15, 2018 14:12:26

Cars pass by the Tesla Inc. Gigafactory 2, which is also known as RiverBend, a joint venture with Panasonic to produce solar panels and roof tiles in Buffalo, New York, US, August 3, 2018. Reuters/Files

Tesla Inc (TSLA.O) has cut prices on its Model S and Model X vehicles in China after Beijing suspended additional tariffs on US-made cars.

According to the electric carmaker’s Chinese website, the price of certain Model S cars was cut by up to 105,000 yuan ($15,200), and Model Xs by up to 65,000 yuan.

China’s finance ministry said on Friday it would suspend additional tariffs on US-made vehicles and auto parts for three months starting January 1, 2019.