Tesla drops Model 3 SR+ price in China

Tesla announced this afternoon that the company would lower the price of the Standard Range Plus (SR+) Model 3 by 15,000 yuan in China. The cost reduction is due to reductions in the production cost of the vehicle.

The company press release did not note what area of its supply or production line experienced the cost reductions. As well, people close to Tesla China denied that the cost reduction is due to the recent series of scandals and safety incidents.

In the past few weeks, Tesla has had to deal with a safety recall and multiple high-profile crashes in the country.

Tesla continues to dominate sales in China despite the setbacks. In June, the company sold 28,138 vehicles. Although it was a 15.9% drop month over month, Tesla is still outselling other manufacturers.

In fact, Tesla outsold Nio, the most significant domestic rival, three to one in June.

The SR+ version of the Model 3 will now retail for 235,900 yuan after subsidies.

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