EV giant Tesla (NASDAQ:TSLA) has lowered the price for its Model 3 rear-wheel drive version in China by 3.7% to 259,500 yuan ($36,278.99), according to its website.
The U.S. automaker launched the new Model 3 variant, its longest-range Tesla model, in China last month.
Tesla’s (NASDAQ:TSLA) China-made electric vehicle sales fell 8.4% year-over-year in July amid mounting competition from lower-priced models launched by local rivals.
Tesla rival XPENG (XPEV) on Monday delivered a record 37,709 smart EVs in August, a 169% increase year-over-year and a 3% rise from the previous month.
