Benzinga - EV giant Tesla Inc (NASDAQ:TSLA) has raised the prices on certain models in China for the second time in a week.
What Happened: Tesla increased the prices of its Model S and Model X in China by 19,000 yuan or about $2,750, according to the company’s website. While the Model S is now priced at 808,900 yuan, Model X is priced at 898,900 yuan.
| Model Name | Current Price (In Yuan) |
| Model X | 898,900 |
| Model X Plaid Edition | 1,058,900 |
| Model S | 808,900 |
| Model S Plaid Edition | 1,028,900 |
Earlier this week, the EV maker hiked prices across U.S., China, Japan and Canada. In China, Model 3 and Model Y prices were increased marginally by 2,000 yuan or about $290.
Why It Matters: The new price hike comes after a slew of price cuts that helped stoke demand. Tesla’s price cuts in China commenced in October with price cuts averaging 9%.
In March, Tesla delivered 76,663 China-made vehicles in the country, a 16.6% increase year over year from the 65,754 vehicles delivered in March 2022, as per China Passenger Car Association (CPCA) data. April figures have not been released yet.
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