Tesla Gets 10% Tax Exemption in China

Tesla currently imports all of the cars it sells in China but plans to make the Model 3, its best-selling vehicle, at the new plant starting late this year. The company on Friday raised prices in China as trade tensions weigh on the country’s currency.

The price of a basic level imported Model 3 sedan went up more than 2% to 363,900 yuan ($50,900), Tesla’s website showed Friday. Base prices for Model S sedans was 793,900 yuan and Model X sport utility vehicles was 809,900 yuan.

Tesla cars could be made $5000 to $14000 cheaper with the tax exemption.

SOURCES- Bloomberg, CNBC
Written By Christina Wong, Nextbigfuture.com