American electric car manufacturer Tesla said Friday that a 10% reduced starting price for the sedan Model 3 China to qualify for subsidies in the world's largest car market.
Tesla, which began deliveries of the electric car from its car plant in Shanghai in December, said that lowered the starting price of its Standard sedan Model Range Plus 3 to 271 550 yuan (about 38 463 USD), receiving 20 250 yuan per car in government subsidies of China in the framework of the program of support of manufacturers of electric vehicles.
Tesla Model 3 is the most budget-a-kind vehicle.
At the end of 2015, China announced to stop the subsidies to electric cars this year, but said in March that will extend them. However, the PRC government announced that subsidies will only apply to cars worth less than 300,000 yuan.
Tesla's Revenue in the first quarter of this year amounted to almost $ 6 billion. The company's net profit for the first quarter amounted to $ 16 million. Due to the fact that the company received in the midst of the pandemic, though some profit, Tesla's shares on the stock exchange increased by 8%.