The cost of the Model S sedan has been reduced by the American EV manufacturers.

and Model X SUVs that they now have on hand by up to 70,000 yuan (about $9,600 USD).


On Wednesday, the information was released via their official WeChat account.

Tesla already reduced the cost of the Long Range and Performance variants of the Model Y SUV by 14,000 yuan just two days ago.

Additionally, through the end of the following month, they will continue to offer an insurance subsidy for the Model 3 sedan's base model.

The world's largest car market may see increased competition as a result of these price reductions.

Other automakers like BMW and the Mercedes-Benz Group would feel pressure from this to lower their prices as well.

In addition to these reductions, Tesla is still offering other benefits like free fast-charging credits.