FILE PHOTO: Tesla China-made Mannequin three automobiles are seen throughout a supply occasion at its manufacturing unit in Shanghai, China January 7, 2020. REUTERS/Aly Tune
BEIJING (Reuters) – U.S. electrical automobile maker Tesla Inc (TSLA.O) mentioned in Friday it has lower the beginning worth for China-made Mannequin three sedans by 10% to qualify for subsidies on this planet’s greatest auto market.
Tesla, which began delivering vehicles from its $2 billion Shanghai automotive plant in December, mentioned in a press release it has lower the beginning worth for its Customary Vary Plus Mannequin three sedans to 271,550 yuan ($38,463.17), after receiving 20,250 yuan per automotive as EV subsidies.
China had introduced plans in 2015 to finish subsidies for electrical automobiles this yr, however mentioned in March it might lengthen them. Nonetheless, it mentioned the subsidies will apply solely to passenger vehicles costing lower than 300,000 yuan.
Reporting by Yilei Solar and Brenda Goh; Enhancing by Muralikumar Anantharaman
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