Tesla will launch its first low-cost model 3 sedan in China as early as today to boost sales in the Chinese market, people familiar with the matter said.
The Volkswagen model 3, which is equipped with a new battery from a Chinese supplier, will sell for 249900 yuan (about 36800 US dollars), which means that the price of the Volkswagen model 3 will be reduced by nearly 10%, according to people familiar with the matter. Tesla currently sells the Volkswagen model 3 in China, with a government subsidy, the cheapest price is 2715500 yuan.
It is expected that this electric vehicle will be equipped with cobalt free lithium iron phosphate (LFP) battery produced by Fujian Ningde times. This new battery raw material combination cost is cheaper, which is conducive to improving the competitiveness of Tesla products in the Chinese market.
Tesla China declined to comment on the news. (Tianmen Mountain)