Tesla will raise the selling price of Model Y in China.

According to the latest information from the Zhitong Finance APP, Tesla (TSLA.US) will increase the price of the Model Y in China. This is another adjustment to the pricing in the world's largest and most competitive electric vehicle market. A representative from Tesla in China stated that after raising the price of the Model Y Performance version on October 27th, the prices of other Model Y models will also be adjusted, although the timing of the adjustment has not been determined.

A year ago, as sales growth began to slow down, Tesla started a price war in China and significantly lowered the prices of its electric vehicles, prompting other companies in the market to follow suit. Recently, Tesla has raised the prices of some models, including a 14,000 yuan (approximately $1,920) increase for the Model Y Performance version last month.

The Model Y is one of the best-selling electric vehicles in China. The updated model was launched on October 1st. New features include different ambient lighting, upgraded interior decoration, and new wheel designs.