Nov 17, 2022 05:13 AM

BUSINESS

Mercedes Slashes China EV Prices 10%–20% Amid Lagging Sales

The Mercedes-Benz AG all-electric EQE SUV at the Mercedes-Benz Magical Garage event in the Musee Rodin in Paris, France, on Sunday, Oct. 16, 2022.

The Mercedes-Benz AG all-electric EQE SUV at the Mercedes-Benz Magical Garage event in the Musee Rodin in Paris, France, on Sunday, Oct. 16, 2022.

(Bloomberg) — Mercedes-Benz Group AG cut prices in China on two electric car models by as much as $33,000, or almost 20%, amid heated competition in the world’s biggest EV market.

The luxury automaker is lowering prices on certain models from its EQ range, effective Wednesday, Mercedes said late Tuesday in a statement on its website. The company will provide subsidies to customers who recently bought the cars, it said.

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