BEIJING (Reuters) - U.S. electric car maker Tesla <TSLA.O> cut the starting price of its Chinese-made Model 3 sedans on Thursday by about 8% to 249,900 yuan ($36,805), once Chinese subsidies for electric vehicles are taken into account, according to its China website.
Previously, the starting price for Model 3 sedans made in Tesla's Shanghai factory with a standard driving range was 271,550 yuan, after state purchase subsidies.
Sources told Reuters that the standard range Model 3 sedans would now come with lithium iron phosphate (LFP) batteries which are cheaper than the nickel-cobalt-manganese (NMC) cells it used previously.
Tesla did not disclose what batteries the cheaper version uses.
The price for Model 3 vehicles with a longer range is now 309,900 yuan, down from 344,050 yuan.
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