SINGAPORE/BERLIN -Tesla Inc on Friday slashed prices for its electric vehicles in Europe, Israel and Singapore, expanding a global discount drive it began in China in January while raising concerns about its industry-leading profit margin.
Days after releasing the disappointing delivery data, Tesla announced its fifth vehicle price reduction this year in the U.S. market, as Washington prepares to introduce tougher standards that will limit EV tax credits. Tesla said on Friday it cut prices in numerous European markets including Germany and France because of a scaling up and improvement in its production capacity.
In Singapore, it cut prices of its Model 3 and Model Y vehicles between 4.3% and 5%, its local website showed.
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