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flag Tesla cuts Model 3 prices in China to boost sales amid competition from local EV makers.

flag Tesla has reduced the price of its long-range rear-wheel drive Model 3 in China by 3.7%, to 259,500 yuan ($36,391), to boost sales amid growing competition from Chinese rivals like Xiaomi and XPeng. flag Tesla's sales have been declining in China and Europe, while competitors like BYD are seeing significant sales growth. flag The price cut aims to attract more Chinese buyers and strengthen Tesla's market position in the face of new electric vehicle models entering the market.

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