Tesla increased the prices of its more expensive Model S and Model X cars in China, following other hikes to its other vehicles a few days prior. The price hikes come after Tesla cut prices over the past few months to stoke demand. Tesla CEO Elon Musk signaled in April on an earnings call that the automaker will be targeting larger volumes of sales versus higher margins but said he expects the company “over time will be able to generate significant profit through autonomy.”

The post Tesla hikes price of high-end Model S and Model X in China by roughly $2,750 appeared first on Balanced News Summary.