Tesla slashed prices of some models in China for a second time in 3 months, and shares of Chinese suppliers closed higher on hopes of improved demand.
Tesla’s Chinese suppliers jumped after the electric automaker slashed prices for some models in China.
In a Weibo post, the company said its Model 3 and Model Y vehicles in China would now be priced at 229,900 yuan (about $33,374) and 259,900 yuan, respectively.
The latest prices represent a drop of 13% to 24% from four months ago, according to Reuters calculations.
