Tesla raised the starting price of its Model Y crossovers by 0.8% to 261,900 yuan ($38,577.11) in China after the company’s aggressive price cuts at the start of the year fueled demand.
Tesla raised the price of the rear-wheel drive version of the Model Y by 2,000 yuan from 259,900 yuan previously, according to pricing information posted on its Chinese website on Friday.
The U.S. automaker planned to ramp up production at its Shanghai plant over the next two months to meet demand fueled by aggressive price cuts on its best-selling models, previously reported. Its market share in China’s battery electric car sector rose to 12.5% in January from 9% in December, according to a calculation based on industry data. Tesla left the prices of other versions of the Model Y and Model 3 cars unchanged.
