TSLA - Did Tesla Just Trigger Another Brutal Price War In China? Li Auto Blinks First With Up To $4000 Discount | Benzinga
Tesla appears to be back to its price-cutting tactics, and the competition is taking notice. Following Tesla’s weekend price reductions in China, domestic electric vehicle manufacturer Li Auto, Inc. (NASDAQ:LI) announced immediate price cuts on its entire EV lineup, excluding the new Li L6.
Li Auto Responds: Li Auto’s price cuts range from 2.8% to 5.7%, according to CnEVPost, with the L-series extended-range models experiencing a 20,000 yuan ($2,761) reduction and the Pro models seeing a slightly smaller 18,000 yuan decrease. The company is also extending the new pricing to existing orders that haven’t been delivered yet.
These adjustments bring the starting price of the Li L7 down to 301,800 yuan, while the base trims of Li L8 and Li L9 start at 321,800 yuan and 409,800 yuan respectively.
Li Auto’s ...