Tesla Announced Price Cuts in The Chinese Market

HANGZHOU, CHINA - AUGUST 14, 2023 - Customers buy electric cars at a Tesla store in Hangzhou, East China's Zhejiang province, Aug. 14, 2023. On the same day, Tesla announced that it had lowered the price of its two high-end Model Y models in the Chinese market, reducing the price of each car by $1,900 (about 14,000 yuan), and also announced an 8,000 yuan limited time insurance subsidy for existing Model 3 car orders. (Photo credit should read CFOTO/Future Publishing via Getty Images)