Tesla steps up price war

Tesla has responded to declining sales in China for the first time in seven months with further price cuts. According to a statement by the US company on Monday, the prices for the long-distance and performance versions of the Model Y have been lowered by just under 2,000 dollars (14,000 yuan) each as of 14 August. Tesla thus reignites the price war in the electric segment, after the manufacturer had recently signed a moderation agreement with Chinese competitors. Another solution is to export cars manufactured in Shanghai to Canada.