Last month, Tesla sold 70% less electric cars in China.
All Tesla products for the Chinese market are imported from the United States, and 40 percent reciprocal tariffs introduced by Beijing increase the cost of expensive electric cars in California. This is happening against the background of unprecedented growth in green car sales in China since the middle of the year.
In an attempt to reassure investors last week, Ilon Musk announced that Tesla would cut prices on model S and model X for the Chinese market to make it “more affordable” and curb the hit. The company has already bought land for its future plant in Shanghai – the first outside the United States.