Tesla cuts prices in China for two higher-end models by as much as 21%

Tesla on Friday announced price cuts in China for two of its higher-end electric vehicles (EVs). The Model S will go for a starting price of 698,900 yuan ($96,191.70) and the Model X will retail for at least 738,900 yuan, the company announced on its Weibo account.

That means prices for all versions of the Model S and Model X are 14% and 21% lower, respectively. ($1 = 7.2657 Chinese yuan renminbi)