©Xpeng Motors

©Xpeng Motors

Tesla’s recent price cuts and upcoming Shanghai plant for producing cheaper cars are increasing pressure on its Chinese rivals

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Not all price cuts are welcomed by consumers.
In February, Tesla slashed prices on eight of its models in China by 8–29%, including on Models 3, S and X – a move that met with rage and protests. A group of Tesla owners even gathered at one of its stores, in Changsha, and put up a banner proclaiming: "Tesla’s willful price cuts violate consumers' legal rights.”
In China, where tariffs and taxes make owning a Tesla far more expensive than elsewhere, Tesla cars are a status symbol for the upper-middle class. No surprise, then, that these car owners are pained to see the value...

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