Tesla cuts prices of all its models in China, competing fiercely with Xiaomi

Tesla China announced price cuts for all its models, with the Model 3 starting at 231,900 yuan, 16,000 yuan less than the starting price of Xiaomi SU7. The Model Y starting at 249,900 yuan, only 100 yuan less than the starting price of Ideal L6. The price cuts are aimed at responding to challenges from new forces such as Xiaomi.