Tesla Model 3 Gets Price Cut in China and Range Increase

Tesla has been dropping its prices on many goods and services recently, and the newest one is an exciting development for the Chinese market.

On Thursday, Tesla China updated its pricing on all Model 3s made in China, with the Standard Range+ (SR+) now starting at CN¥249,900 (~$36,800 USD) and the Long Range Rear-Wheel-Drive (LR RWD) starting at CY¥309,900 (~$45,600 USD). The news was first reported by Twitter user @Tesla__Mania.

The price cuts reflect a major drop in price for the SR+ and the LR RWD, equating to CN¥21,650 and CN¥34,150, respectively. They also come on the celebration of China’s National Day as well as its Mid-Autumn Festival.

While the acceleration will remain the same, the range will increase in the SR+ from 445km to 468km.

With the completion of its Shanghai Gigafactory earlier this year, Tesla is set to continue to maintain the Chinese market. It’s still the only electric vehicle (EV) company with a full line of cars, in spite of startups like NIO, XPeng Motors, Li Auto, and others beginning to share their ideas for EVs.

If prices continue dropping at this rate, everyone in China may own a Tesla within the decade, before other EV companies even get a chance to compete – and that’s hardly being hyperbolic.