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epa04727762 A row of Tesla Motors Model S cars are seen at a parking lot of the Tesla Motors Headquarters in Palo Alto, California, USA, 30 April 2015. EPA/JOHN G. MABANGLO

The US-China trade war has made an early victim: Tesla

20%

Tesla hiked prices of its electric cars in China over the weekend—from $107,300 to $128,400 for the Model S, and from $117,100 to $140,100 for the Model X, says the Wall Street Journal.

Published   |  Photo by EPA/John G. Mabanglo
epa04727762 A row of Tesla Motors Model S cars are seen at a parking lot of the Tesla Motors Headquarters in Palo Alto, California, USA, 30 April 2015. EPA/JOHN G. MABANGLO
20%

The 20% hike is an early effect of the US-China trade war, that started in earnest on Friday (July 6), when both countries imposed tariffs on $34 billion of products.

epa04727762 A row of Tesla Motors Model S cars are seen at a parking lot of the Tesla Motors Headquarters in Palo Alto, California, USA, 30 April 2015. EPA/JOHN G. MABANGLO
20%

Crucially for Tesla, the list of 545 types of US products targeted by the Chinese included passenger vehicles—like the electric cars made by the company on US soil and sent to China.

epa04727762 A row of Tesla Motors Model S cars are seen at a parking lot of the Tesla Motors Headquarters in Palo Alto, California, USA, 30 April 2015. EPA/JOHN G. MABANGLO
20%

China is one of Tesla’s most important markets. The firm has some 30 stores in the country, and sold about 17,000 cars there last year, making $2 billion.

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