Car manufacturer Tesla has reduced the price of Model 3 produced in China by 16 percent. The price reduction was made possible by subsidies from the Chinese government for electric cars.
The price of the Model 3 produced in China will be 299,050 yuan (around 38,000 euros). The asking price in the Netherlands is around 10,000 euros higher.
With the reduced price, Tesla hopes to compete with Chinese producers of electric cars. China is currently the largest market for electric cars, followed by Europe and the United States.
Tesla is expected to start delivering electric cars to the Chinese consumer market on January 7. On Monday, 15 employees of the American car manufacturer in China received the key to the first copies.
China is currently the only country outside the US where Tesla has a factory. The Elon Musk company wants to be able to carry out all parts of the production process in China in 2020.
Tesla hopes for the coming years produce around 250,000 vehicles per year with its Shanghai plant.
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