American electric vehicle maker Tesla Inc. is adding a new offer to Chinese car buyers’ wish lists as the country starts to celebrate the Lunar New Year.
Tesla started taking orders Friday in China for a lower-priced version of its Model 3 car, seeking to attract more buyers in the world’s largest auto market as sales have been hurt by the trade war with the U.S.
Prices for the long-range, rear-drive Model 3 variant start at 433,000 yuan ($64,300.56), compared with 499,000 yuan for the Model 3 available in China last month. Tesla said earlier that it would start delivering Model 3s in China in March.
The California-based company currently imports all vehicles from the U.S. to China, exposing Tesla to the risks of the U.S.-Sino tariff. Tesla is building its first China factory in Shanghai, to start production in the second half this year with capacity to build 3,000 Model 3 vehicles a week.