Tesla Model Y price down to $52,000 in China

EPA/MAURITZ ANTIN

Tesla Inc. revealed on Friday that its China-produced electric compact crossover utility vehicle Model Y Dual Motor AWD will cost 339,900 yuan ($52,000), while the price of the Model Y Performance will stand at 369,900 yuan ($56,600) in the Asian country.

The prices have been cut from previously-announced 488,000 yuan ($74,700) for Model Y Dual Motor AWD and from 535,000 yuan ($81,900) for the Performance variant.

Deliveries of the vehicles, made at the Gigafactory Shanghai, will begin this month, the company added.

Breaking the News / MS