A Tesla Model 3 on display in Shanghai on Sunday Photo: Xie Jun/GT
Tesla plans to increase prices of imported Model 3 vehicles with longer ranges and those with performance functions by January next year. The cars are currently priced at 439,900 yuan ($62,495.56) to 509,900 yuan, according a Reuters report.
The local Tesla could get nearly 25,000 yuan in new-energy vehicle subsidies based China's current policy, and the price per car could drop to 331,000 yuan.
The US all-electric carmaker's Shanghai Gigafactory obtained a mass production license from China's Ministry of Industry and Information Technology in November this year.
The plant is Tesla's first car factory outside the US. It could boost sales in the world's biggest auto market and avoid higher import tariffs imposed on US cars amid a prolonged trade war.