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Published on: 21. April 2024

Tesla continues the discount battle

190107 -- SHANGHAI, Jan. 7, 2019 Xinhua -- Tesla CEO Elon Musk speaks at the groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, east China, Jan. 7, 2019. U.S. electric carmaker Tesla Inc. on Monday broke ground on its Shanghai factory, becoming the first to benefit from a new policy allowing foreign carmakers to set up wholly-owned subsidiaries in China. The new plant, Tesla s first outside the United States, is located in Lingang Area, a high-end manufacturing park in the southeast harbor of Shanghai. It is designed with an annual capacity of 500,000 electric cars. Tesla signed the agreement with the Shanghai municipal government in July 2018 to build the factory. In October, the company was approved to use an 864,885-square-meter tract of land in Lingang for its Shanghai plant. Xinhua/Ding Ting CHINA-SH PUBLICATIONxNOTxINxCHN
The discount spiral caused by China's overcapacity continues. Tesla once again lowered its prices in China.

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Last updated: 24. July 2025
Car Industry
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