TESLA RAISES PRICES

NEW YORK : Tesla Inc has raised prices on its Model X and S cars by over $20,000 in China, automotive news website Electrek reported on Monday-

Making it one one of the first US carmakers to hike prices in the wake of rising trade tensions.

China has slapped retaliatory tariffs on US car imports in response to President Donald Trump's move to impose tariffs on US car imports in response to president Donald Trump's move impose tariffs on $34 billion worth of Chinese goods.

Tesla has been banking heavily on China, the world's largest automotive market, to boost sales of its electric cars and had planned to build a factory in the country.

The company in May slashed up to $14,000 off its Model X in China and Beijing announced major tariff cuts for imported automobiles. [Reuters].