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Tesla Cuts Prices On European Model 3: Report

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Benzinga EV Insights
·1 min read
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Tesla Inc's (NASDAQ: TSLA) Model 3 has been a popular car worldwide. Unfortunately for European customers having the vehicle imported, the prices were a bit high. It seems like Tesla is now trying to make the vehicle more affordable.

According to Electrek, legacy automakers are starting to take a larger slice of the electric vehicle market. Part of this may be due to import costs Tesla must deal with that domestic manufacturers don't have. Tesla currently imports its vehicles from the U.S. and China.

Click here to check out Benzinga's EV Hub for the latest electric vehicle news.

Tesla is now dropping the price of the Model 3 in multiple European countries. In Germany, the Model 3 is up to €4,000 cheaper, depending on the trim. In France, the price reductions are as much as €6,000.

Tesla is currently building its Gigafactory Berlin, which will initially produce the Model Y, but will eventually produce more vehicles. This is expected to allow Tesla to drop prices even more.

Photo courtesy of Tesla.

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