Tesla slides 4%, Li Auto sinks 8% as EV makers slash prices amid fierce competition
PUBLISHED MON, APR 22 20245:11 AM EDTUPDATED 30 MIN AGOKEY POINTS
- Tesla reportedly cut the starting price of its Model 3 in China to 231,900 yuan ($32,000) on Sunday, a reduction of 14,000 yuan.
- Chinese rival, Li Auto, also cut prices for its models, including the L7, L8, L9 and the newly launched Mega SUV.
- Hong Kong-listed shares of Li Auto plummeted to an 11-month low Monday.
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