Elon Musk-owned electric vehicle company Tesla has raised the price for the rear-wheel-drive, or the base variant, of the Model 3 and Model Y in China.
The company’s official Chinese website has revealed the price change in the country, report GizmoChina.
According to the report, the Model 3’s rear-wheel-drive variant now costs around 265,652 Yuan (roughly $42,000), which marks an increase of 10,000 Yuan (roughly $1,575) over the original price.
On the other hand, the price of the rear-wheel drive-version of the Model Y has also been raised to 301,840 Yuan (roughly $47,560), which is around 21,000 Yuan (roughly $3,320) higher than the previous price tag.
The Model Y offers a 545 km range on a single full charge and has a top speed of 217 km/h. It can even accelerate from 0 to 100 km/h in just 6.9 seconds.
On the other hand, the US automobile giant’s Model 3 offers a top speed of 225 km/h, with a maximum range of 556 km on a single full charge. It can go 0 to 100 km/h in just 6.1 seconds.
The official reason for the price hike is unknown right now, but might be due to the ongoing chip shortage issue, the report said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)