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Electric cars in China

Tesla takes on Chinese rivals with new price cuts

US automaker eyes Lunar New Year buyers as Shanghai factory deliveries begin

Tesla this week began deliveries of its Model 3 sedan from its new factory in Shanghai.   © Reuters

HONG KONG -- U.S. electric automaker Tesla has lowered the price of its first China-produced model after starting deliveries this week amid a record slump in the country's car market, the world's largest.

The price cut will heighten competition between Tesla and local electric vehicle producers who have seen sales slow after the Chinese government slashed subsidies.

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