• About BreezyScroll
  • Privacy & Policy
  • Contact Us
Tuesday, May 27, 2025
BreezyScroll
ADVERTISEMENT
  • Home
  • Breezy Stories
  • Technology
  • Gaming
  • Entertainment
  • Lifestyle
  • World
  • Money
  • Sports
  • Breezy Explainer
No Result
View All Result
  • Home
  • Breezy Stories
  • Technology
  • Gaming
  • Entertainment
  • Lifestyle
  • World
  • Money
  • Sports
  • Breezy Explainer
No Result
View All Result
BreezyScroll
No Result
View All Result
ADVERTISEMENT

Home  /  World  /  Tesla’s 50% price cut causes ‘havoc’ in China’s electric car market: report

Tesla’s 50% price cut causes ‘havoc’ in China’s electric car market: report

by Siddhi Vinayak Misra
March 24, 2023
in Auto, Business, China, World
Reading Time: 2 mins read
Tesla's 50% price cut causes 'havoc' in China's electric car market: report

In the very competitive Chinese market, Elon Musk’s Tesla has adopted a strategy that has set off a price war among electric car manufacturers. The corporation has reduced the price of its cars by up to 50%, forcing other businesses to follow suit in order to remain competitive. Tesla’s significant price reduction even poses a danger to eliminating rivals from the market.

ADVERTISEMENT

The Tesla strategy was put into effect in October. At its facility in Shanghai, Tesla, a major player in the Chinese market, produces its vehicles. Following the initial price decrease in October, Tesla’s locally produced cars are now 14% less expensive than they were a year ago. The cars were sometimes 50% less expensive than they would have been in the US and Europe.

Other automakers were obliged to lower their model prices as a result of Tesla’s aggressive pricing approach. Local and international brands are both involved in the price war. They include Xpeng, Nio Volkswagen, and Mercedes-Benz to name a few.

Mercedes-Benz has made a reduction of up to 70,000 Yuan (USD 10,000). The Mach-E electric sport utility vehicle from Ford Motor Company is now available for 209,000 yuan. As a result, it is about a third less expensive than in the US.

ADVERTISEMENT

Jochen Siebert, managing director of JSC Automotive, a consultancy with operations in Shanghai and Stuttgart, claimed that “Tesla created havoc for the rest of the market.” Siebert was quoted by Bloomberg in its report on the situation.

ShareTweetShareSend
ADVERTISEMENT
ADVERTISEMENT

Recent Articles

Podcast host under fire for using ChatGPT to scam 100 free McDonald’s meals

Podcast host under fire for using ChatGPT to scam 100 free McDonald’s meals

May 27, 2025
US Visa

One speeding ticket could get you deported: The hidden nightmares facing international students in the U.S.

May 27, 2025
Skipping classes, working off-campus could cost you your student visa, US embassy warns international students

Skipping classes, working off-campus could cost you your student visa, US embassy warns international students

May 27, 2025
South Korea slaps travel ban on two former acting presidents

South Korea slaps travel ban on two former acting presidents

May 27, 2025
BreezyScroll Logo

BreezyScroll is a global content platform that provides a unique experience of enhancing the knowledge quotient for its audience by providing the latest news and updates from various categories such as politics, sports, entertainment, technology, and more.
The platform aims to provide a concise and easy-to-read format for its users. BreezyScroll covers news stories from around the world, majorly the United States. The platform was launched in 2021 and has become one of the fastest-growing content companies in the US.

Follow Us

Browse by Category

  • Africa
  • Animals
  • Asia
  • Athletics
  • Australia
  • Auto
  • Basketball
  • Bollywood
  • Brand
  • Breezy Explainer
  • Breezy Feature
  • Breezy Soul
  • Business
  • Canada
  • Chess
  • China
  • Coronavirus
  • Cricket
  • Education
  • Entertainment
  • Environment
  • EPL
  • Europe
  • Exclusive Interview
  • Exclusive Review
  • Football
  • Gaming
  • Health
  • Hollywood
  • India
  • International
  • K Pop
  • Law
  • Lifestyle
  • Middle East
  • Money
  • NFL
  • North America
  • OTT
  • Paris Olympics
  • Pets
  • Press Releases
  • Russia
  • Science
  • South America
  • Space
  • Sports
  • Startup
  • Technology
  • Tennis
  • Tennis
  • The Achievers
  • The US
  • Travel
  • UK
  • UK
  • Uncategorized
  • World
  • WWE

Trending Topics

Afghanistan AI Apple Australia Biden California Canada China Climate Change Coronavirus COVID-19 Donald Trump Elon Musk Featured Florida Google IPL Japan Joe Biden Mars Meta Moon NASA NBA Netflix New York North Korea Ohio Omicron Putin Queen Elizabeth II Russia Russia-Ukraine crisis South Korea SpaceX Taliban Tesla Texas TikTok Trump Twitter UK Ukraine USA Virat Kohli

No Result
View All Result
  • About BreezyScroll
  • Privacy & Policy
  • Contact Us

© 2024 · BreezyScroll.com

No Result
View All Result
  • Home
  • Breezy Stories
  • Technology
  • Gaming
  • Entertainment
  • Lifestyle
  • World
  • Money
  • Sports
  • Breezy Explainer

© 2024 · BreezyScroll.com

Go to mobile version