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Tesla China Model 3 Sales Are Through the Roof After New Pricing Adjustment

by Eva Fox October 01, 2020

Tesla China Model 3 Sales Are Through the Roof After New Pricing Adjustment

Today, Tesla China officially confirmed that it has started using cobalt-free lithium iron phosphate (LFP) batteries in its China-made Model 3. This, in turn, has led to significant price decreases and an incredible boost to demand.

Tesla Model 3 Standard Range Plus is now priced at 249,900 RMB after incentives (36,802.50 USD), which corresponds to an 8% reduction.

Tesla Model 3 Long Range Dual Motor AWD now costs 309,900 RMB (45,638.63 USD), which corresponds to an 11% price reduction.



Due to this price drop, all stores in China have experienced an explosion in demand. @ray4tesla/Twitter reports that according to a sales representative the first day of sales was so insane that store employees hardly had time for meals and to chat with customers.

We also contacted our sources in China who double confirmed that, due to price adjustments, all stores are overcrowded with customers rushing to order the China-made Model 3 at a freshly reduced price.

To maintain competitiveness and affordability, Tesla has come up with excellent solutions to reduce its EV prices. Eliminating cobalt is a great way to achieve this, for example, as the element is very expensive.

 



In addition, the process of mining cobalt in some places is associated with serious ethical issues. CEO Elon Musk said the company will work to reduce cobalt use to near zero. The facts show that he remains true to his word.

© 2020, Eva Fox. All rights reserved.

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Article edited by @SmokeyShorts, you can follow him on Twitter

 





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