Tesla raises prices for its vehicles in China in response to new tariffs

Beijing, July 9 (TASR) – The American manufacturer Tesla has increased its prices of cars in China, model X and S, by more than 20,000 dollars (17,059.02 euros).

Tesla is one of the first US automakers to increase its prices following the worsening trade dispute between two of the world's largest economies

US President Donald Trump has introduced additional tariffs since July 6 to 34 billion dollars in Chinese products. Beijing responded by retaliatory charges to the same amount on imports of products from the United States, including cars. Tesla has strongly relied on the Chinese market to help increase the sale of electric cars. He also plans to build a factory in the Asian country, the largest car market in the world

The car has just reduced the price of X model of 14 000 USD in May after Beijing announced a significant reduction in customs duties on imports. Last year, China accounted for about 17% of the total Tesla business, which exported about 15,000 vehicles a year.

Ford Motor, the automaker, said Thursday (5.7) that it would not increase the prices of its models exported to China. , including Lincoln luxury cars with a higher margin

(1 EUR = 1.1724 USD)