"Tesla Slashes Prices in Key Market"

Tesla has reduced prices for its Model 3 and two Model Y variants in China, with the Model 3 Rear Wheel Drive now priced at RMB 245,900 and the Model Y LR at RMB 299,900. Despite strong sales in China, Tesla's stock fell 1% in after-hours trading, with shares dropping 2.9% on Thursday. The company faces fierce competition in China's EV market, with rivals introducing new models at competitive prices.