Xpeng's launch of the Mona M03 at a starting price of 119,800 yuan represents a direct challenge to Tesla, showcasing how low-priced local EVs are gaining traction in China's competitive market.
Tesla's strategy of cutting prices in response to fierce competition reveals the urgency with which the automaker must adapt to local rivals who offer advanced technology at lower prices.
Chinese competitors like BYD and Nio are not only matching Tesla in technology but also undercutting its prices, making the pricing strategy crucial for Tesla's survival in China.
Nio’s upcoming Onvo brand illustrates the aggressive moves local manufacturers are making to capture market share, launching vehicles like the L60 priced lower than Tesla’s offerings while providing innovative features.
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