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Tesla to raise prices in China this week


The U.S. electric vehicle maker will raise prices in China on Friday, earlier than initially planned.

The company is considering increasing prices again in December should Chinese tariffs on U.S.-made cars take effect

Stocks impacted: Tesla INC. (TSLA)

As the company imports all the cars it sells in China, it has to adjust prices multiple times already over the past year due to tariff changes between the US and China. Earlier, Tesla was considering to lift prices in China from September after the yuan plunged against the U.S. dollar. Moreover, amid the latest escalation in the trade war, the automaker is now also discussing another price hike in December. As a reminder, Tesla is constructing a plant in China, and plans to start producing cars at the factory near Shanghai by the end of 2019.

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