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8/26, 9:41 AM (Source: TeleTrader)
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Tesla-2.01%

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Tesla to raise China prices on August 30 - reports

United States electric carmaker Tesla Inc. will raise its prices in China on Friday, media reported on Monday citing sources familiar with the matter.

The sources said that the raise was taking place earlier than planned and added that the company could increase prices again in December should Chinese tariffs on US-made cars take effect. Reuters reported. Tesla did not provide any comments on the matter.

China announced on Friday that it would impose retaliatory tariffs on $75 billion of US products, including cars, in response to the latter's additional duties which will be enforced from next month. However, it subsequently clarified that it will allow companies importing certain cars and auto products from the US to apply for exemptions from the tariffs.

Breaking the News / DZ