Tesla

Shanghai will further deepen its cooperation with Tesla to promote the EV maker's businesses including self-driving and robotics in the city, a local official said.

Baillie Gifford trimmed its holdings in Nio and Tesla by 0.77 percent and 2.83 percent, respectively, in the first quarter, but the value of its holdings in them rose.

The recall involves the vehicles' regenerative braking strategy, which Tesla plans to update via OTA to reduce the risk of crashes due to prolonged deep pressing of the accelerator pedal.

From January to April, the Model Y sold 121,407 units, making it the second-best-selling new energy SUV in China during this period.

Including exports, China-made Model 3 and Model Y sales in April were 26,783 and 49,059 vehicles, respectively, according to the CPCA.

Tesla's April sales in China may have been negatively impacted by consumer expectations of price cuts. It raised the prices of all its models in China this week, seemingly aimed at dampening such expectations.

Since this week, the Model Y with BYD battery has been produced at Tesla's Gigafactory in Grünheide, Germany, according to a German media report.

Starting May 5, Chinese consumers who order a new Model S or Model X and have the vehicle delivered by September 30 will receive the benefit.

Tesla raised the prices of the entire new Model S and Model X lineup in China by about 2 percent, following price increases for the locally produced Model 3 and Model Y three days ago.

Tesla's move could help dispel the wait-and-see sentiment of some potential consumers, which could benefit sales in the near term.