The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Mercedes-Benz Group AG cut prices on two electric car models in China by as much as $33,000, as heated competition in the world’s biggest EV market impacts sales.
The luxury automaker said in a statement that it was reducing prices on certain models from its EQ range, and that it would provide subsidies to customers who recently bought the cars.
The cuts seemed to be immediate, with the EQE priced at 478,000 yuan ($67,675) on Mercedes’ Chinese website, compared to 528,000 yuan. The EQS luxury edition model was listed at 956,000 yuan, down from 1.19 million yuan, equivalent to a reduction of around $33,000.