PHOTO FILE: The Tesla logo is on a car during the E-Rallye Baltica 2019 electric car in Bauska, Latvia, 23 July, 2019. REUTERS / Ints Kalnins / Photo File
SHANGHAI (Reuters) – Electrical vehicle manufacturer of the United States Tesla Inc (TSLA.O(b) raise prices for some vehicles in China as yuan trades the weakest levels in more than ten years.
The initial price for the Model X sports utility vehicle (SUV) is now 809,900 yuan ($ 114,186), compared to 790,900 yuan previously, according to Tesla's China Friday website.
439,900 yuan is the long-range dual-motor versions of 3 supermarket cars now, up from 429,900 yuan previously.
The U-China trade frications and tariff war encouraged all of the countries between Tesla, all the cars she currently sells in China, to adjust her prices several times over the past year.
The latest trip as China approved for the Yuan weakened against the US dollar earlier this month, raising the cost of imports and asking Washington to handle currency labeling on China. Beijing strongly opposed the label.
People who were familiar with the story of Reuters earlier this week told Tesla that prices would be successful because of the uncertainty of the currency and that it could do so again in December which should t Chinese tariffs on cars made by U. in place.
Tesla is currently building its first overseas factory in Shanghai, which is expected to help the business minimize the impact of trade war. It is due to start production by the end of the year and Tesla has stated that it should be able to construct 3,000 Model 3 vehicles per week in its initial stages.
While Tesla does not reveal sales by country, the LMC Automotive consultancy estimates that it sold 23,678 vehicles in China in the first seven months of this year, including 17,451 Model 3 cars.
Reporting at Yilei Sun in Shanghai and Se Young Lee in BEIJING; Additional reporting to Brenda Goh in Shanghai; Edited by Stephen Coates and Himani Sarkar
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