Tesla Raises Model 3 Price Due to EU Tariffs
Tesla has decided to raise the price of its popular Model 3. This move comes after the EU imposed punitive tariffs on electric cars imported from China .
In July, the EU imposed new punitive tariffs on electric cars manufactured in and imported from China. Tesla, which produces the Model 3 in its Shanghai factory, had already warned in June that these tariffs could lead to increased costs for consumers in Europe and Sweden.
The cheapest version of Model 3 with rear-wheel drive has had its price increased by £17,000 and now costs £513,170. Similarly, prices for Model 3 Long Range and Model 3 Performance have been adjusted, with new prices of £603,170 and £661,170 respectively.
While Tesla is adjusting its prices to compensate for the new tariffs, Chinese car manufacturer BYD has chosen a different path. To avoid the punitive tariffs, BYD is opening new factories globally, including in Turkey and Hungary, which will allow it to continue delivering its electric cars without price increases.
