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Tesla hikes price of long-range Model 3 in China by $1,400, offers improved range and performance

Tesla hikes price of long-range Model 3 in China by $1,400, offers improved range and performance

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  • The price of the Model 3 long range variant in China has been increased by RMB 10,000 ($1,400) to the new price of RMB 285,500.
  • The CLTC range for the variant has been extended from 713 km to 753 km, and the 0-100 km/h acceleration time has been reduced from 4.4 seconds to 3.8 seconds.

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Tesla (NASDAQ: TSLA) has quietly raised the price of the Model 3 electric sedan’s long range all-wheel-drive version in China, while also improving range and performance.

The price of the Model 3 long range version has been increased by RMB 10,000 ($1,400) to the new price of RMB 285,500, according to information on Tesla China’s website.

This represents a 3.63 percent increase from the previous price of RMB 275,500 for this variant.

The CLTC range of the Model 3 long range version has been extended from 713 kilometers to 753 kilometers, and the 0-100 km/h acceleration time has been reduced from 4.4 seconds to 3.8 seconds.

Meanwhile, the delivery wait time for the variant has been shortened from 3-5 weeks to 1-3 weeks, according to CnEVPost’s daily monitoring.

The prices and specifications of the other two variants of the Model 3 in China — the entry-level rear-wheel-drive version and the all-wheel-drive performance version — remain unchanged, with starting prices of RMB 235,500 and RMB 339,500, respectively. Their wait times also remain unchanged at 1-3 weeks and 8-10 weeks, respectively.

The long-range version of the Model Y SUV (sport utility vehicle) has also seen an increase in range, from 719 kilometers to 750 kilometers. The starting price for this variant remains at RMB 313,500, and the 0-100 km/h acceleration time remains at 4.3 seconds.

($1 = RMB 7.1639)

In the first five months of the year, Tesla’s retail sales in the Chinese domestic market totaled 201,926 units, down 7.82 percent year-on-year.