Multiple automakers have raised prices for their electric vehicles (EVs) in China after Beijing cut subsidies for new energy vehicles by 30% at the start of 2022. Tesla’s prices for the rear-wheel-drive Model 3 and Model Y rose by RMB 10,000 ($1,574) and RMB 21,000 respectively, while the starting prices for Volkswagen’s ID. series EVs increased by RMB 5,400. Under the new policy released by China’s Finance Ministry on Friday, EVs with a driving range of over 400km (248 miles) enjoy a subsidy of RMB 18,000, lowered by RMB 5,400. [Jiemian, in Chinese]
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