Price Change

Tesla's main selling model in China, the Model Y, is expected to see a price cut of up to RMB 40,000 ($5,616), bringing the starting price of the rear-wheel drive version of the Model Y down to possibly RMB 270,000 to 290,000, according to local media.

For Tesla owners who get deliveries from September 16 to September 30, they can receive a subsidy of RMB 8,000 if they choose to purchase insurance in a Tesla store.

BYD's pure electric vehicle models will increase in price by RMB 10,000 and plug-in hybrid models will rise by RMB 6,000, local media reported earlier.

The price of the Smart #1 will be raised by RMB 5,800 ($860) for its highest-priced version before deliveries in China begin in September.

Leapmotor T03's price has been raised by RMB 5,600 to RMB 6,600 due to higher raw material prices.

As Xpeng's production capacity has increased significantly, orders have not grown as quickly in tandem, putting pressure on sales for the company, according to local media.

Tesla is currently offering two versions of the Model 3 in China as well as three versions of the Model Y. The pricing and expected delivery dates for all models except the Model Y Long Range remain unchanged.

This comes just 13 days after Zeekr last raised the price of a model and cut back on a number of benefits.

Nio announced vehicle price increases last month, but the ET7 and ET5 sedans were excluded at that time.

Ford Mustang Mach-E prices in China will be raised by RMB 7,000 yuan - 22,500 yuan ($3,530) on May 5.