Tesla hikes prices of some of its models in China

The depreciation of the Renminbi has led to a jump in import costs.

On Friday, U.S. electric vehicles maker Tesla Inc stated, it has raised the price of some of its models in China.

The development comes in the wake of the Chinese Renminbi touching its lowest levels in more than a decade.

Following the slight bump in prices, the starting price for the Model X sport utility vehicle (SUV) is now $114,186 (809,900 yuan) up from 790,900 yuan. Tesla’s mass market dual-motor variant, the Model 3 is priced at 439,900 yuan, up from 429,900 yuan.

According to sources familiar with the matter at hand, Tesla could hike prices in December if Chinese tariffs on U.S.-made cars take effect.

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