Tesla, battling to maintain electric-vehicle market share at home and abroad, cut prices on some models in China twice this week, according to news reports.
The Texas-based EV maker, the market leader in the U.S., cut prices on selected Model S sedans and Model X sports-utility vehicles in China by about $10,000. Two days earlier, it cut some Model Y midsize SUV prices.
Tesla has been slashing prices all year, sacrificing profits for margin. And most recently, it launched less expensive versions of models S and X with shorter ranges.
The EV maker had recently agreed to a price war cease-fire with China, but this week’s cuts show it was short-lived after Tesla’s sales there fell.
