Tesla cuts starting price for China-made Model 3 vehicles by 8%

U.S. electric vehicle maker Tesla Inc cut on Thursday the starting price for its China-made Model 3 vehicles by around 8% to 249,900 yuan ($36,805.21) after receiving Chinese subsidies for electric vehicles, according to its China website.

The starting price for Model 3 electric sedans made from its Shanghai factory was earlier 271,550 yuan after receiving subsidies. ($1 = 6.7898 Chinese yuan renminbi)