Tesla Model S and Model X costs increase in China due to tariff hike
US electric vehicle maker Tesla’s exports to China are possibly on the verge of a possible slowdown because of a recent move by the Chinese government to increase import duties from the current 25% to a significantly high 40%.
The tariff-hike move by the Chinese government apparently underscores a retaliatory decision, resulting from the US government’s latest list of tariffs for Chinese goods. The move by the US government has escalated the ongoing trade war between the two countries.
The recent announcement by the Chinese government about an increase in tariff to 40% has delivered a hard blow to Tesla Motors, in terms of the cost of the electric vehicles which the company is presently selling in China.
Prior to the tariff hike by China, it was being projected that the tariffs in the country will probably be reduced from 25% to 15%. As such, Tesla was planning a massive EV push in the country.
However, with the tariffs having been increased by the Chinese government, the cost of Tesla’s Model S and Model X vehicles increased over this past weekend. The cost increase for the two vehicles ranges between 150,000 yuan to 250,000 yuan (~$22,600 to ~$37,600) depending on the versions.
New plans related to production of Model 3 have surprised parts makers. The automotive company has planned to launch its Model 3 by 2018, which is two years prior to what earlier was decided.
South Korean tire manufacturer Hankook Tire Manufacturing Company unveiled its new tires for electric vehicles (EVs) on Monday.
In accordance with Tesla CEO Elon Musk’s earlier-this-week announcement, the automaker is rolling out a new software update for its Autopilot system for its electric vehicles.
With US electric vehicle maker Tesla Motors having stabilized the monthly deliveries of its vehicles after recent issues, the sales of the company’s electric vehicles (EVs) in Norway have increased almost two-fold as compared to the 2017 figures.
In a recently released report, Forbes has drawn attention to data which shows that the sales of electric vehicles (EVs) in China were the highest in the world during 2017.
According to a recent announcement, Ryder is placing an order of a big fleet of 500 all-electric vans with a new electric vehicle startup Chanje.