Tesla launches new Model 3 in China with longer range
) on Friday unveiled a restyled Model 3 with a longer driving range in China and other export markets for its Shanghai factory including Europe, putting pressure on rivals.
Raising the base price on the Model 3, Tesla's best selling model after the Y, could help protect margins, but the price cuts for its higher-end models underscored the continued pressure EV makers face, especially in China where Tesla sparked a price war with its Chinese rivals earlier this year. Tesla did not announce a launch date for the new Model 3 in the U.S. market, where it currently offers discounts of more than $5,000 on some of those vehicles in inventory. The company also makes the Model 3 at its plant in Fremont, California.Tesla said it would debut the new Model 3 at a trade fair in Beijing on Saturday and some of its new features, including a rear display for back-seat passengers, seemed aimed at Chinese car buyers.
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