Tesla Hikes Price of Popular China SUV in Strategy U-Turn

What’s new: Tesla Inc. has raised the price of one of its most popular models in China, continuing its reversal in pricing strategy in the world’s largest electric-vehicle (EV) market, where local rivals are scrambling to offer more affordable cars to attract customers.

The hike, effective Tuesday, is for the long-range version of the Model Y SUV. The version is now 2,000 yuan ($279) more expensive, retailing at 304,400 yuan, Tesla said in a social media post.