Hyperdrive
Tesla to Cut Price on Chinese Model 3 With CATL Battery
- Model 3s with China-made battery will sell for under $37,000
- Tesla has been diversifying its battery supplier base
This article is for subscribers only.
Tesla Inc. launched its first Model 3 sedan that people with knowledge of the matter said is equipped with cheaper, Chinese-made batteries, allowing it to cut the cost of cars and boost sales in the world’s largest electric-vehicle market.
The mass-market Model 3s will sell for 249,900 yuan ($36,800) after government subsidies, bringing the starting price of Tesla’s basic model down by almost 10%. The car will have a range of 468 kilometers (291 miles) on one charge.