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Tesla cuts prices in China on Model Y configurations

Credit: 小凡

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Tesla is cutting prices in China on its Model Y crossover by as much as 4.5 percent.

The automaker’s Model Y Long Range and Performance configurations both dropped in price. The Long Range is now starting at 299,900 yuan ($41,291) and the Performance configuration is now starting at 349,900 ($48,176). The drops are by 4.5 and 3.8 percent, respectively.

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Tesla.com

Tesla also noted that it would offer 8,000 yuan ($1,101) subsidies on Model 3 vehicles. This discount will last from today until September 30, and will qualify for the Rear-Wheel-Drive configurations of the vehicle.

Tesla has slashed prices frequently this year, with most cuts coming during the first few months of 2023. However, routine adjustments have been a strategy the automaker has used to fend off competition and stimulate demand in various regions.

After a weak performance in China in July, Tesla may be looking to help drive up interest from consumers in purchasing the company’s vehicles. The automaker sold 64,285 wholesale units in July, an over 31 percent decrease from June.

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However, the cuts were not unexpected. During the recent Q2 Earnings Call that occurred late last month, CEO Elon Musk said that price cuts would be on the table for Tesla as it continued to put pressure on its margins.

Musk believes it is worth the potential margin squeeze if it helps the company make and sell more cars. It appears this strategy is what the company is going with moving forward, at least for now.

“I think it makes it does make sense to sacrifice margins in favor of making more vehicles.” Musk said on the call. “If market condition is stable, I think prices will be stable. If they’re not stable, then we would have lower prices. Yes.”

The move also solidifies analyst opinions that predicted the automaker would continue to cut prices.

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Please email me with questions and comments at joey@teslarati.com. I’d love to chat! You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Elon Musk

Brazil Supreme Court orders Elon Musk and X investigation closed

The decision was issued by Supreme Court Justice Alexandre de Moraes following a recommendation from Brazil’s Prosecutor-General Paulo Gonet.

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Gage Skidmore, CC BY-SA 4.0 , via Wikimedia Commons

Brazil’s Supreme Federal Court has ordered the closure of an investigation involving Elon Musk and social media platform X. The inquiry had been pending for about two years and examined whether the platform was used to coordinate attacks against members of the judiciary.

The decision was issued by Supreme Court Justice Alexandre de Moraes following a recommendation from Brazil’s Prosecutor-General Paulo Gonet.

According to a report from Agencia Brasil, the investigation conducted by the Federal Police did not find evidence that X deliberately attempted to attack the judiciary or circumvent court orders.

Prosecutor-General Paulo Gonet concluded that the irregularities identified during the probe did not indicate fraudulent intent.

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Justice Moraes accepted the prosecutor’s recommendation and ruled that the investigation should be closed. Under the ruling, the case will remain closed unless new evidence emerges.

The inquiry stemmed from concerns that content on X may have enabled online attacks against Supreme Court justices or violated rulings requiring the suspension of certain accounts under investigation.

Justice Moraes had previously taken several enforcement actions related to the platform during the broader dispute involving social media regulation in Brazil.

These included ordering a nationwide block of the platform, freezing Starlink accounts, and imposing fines on X totaling about $5.2 million. Authorities also froze financial assets linked to X and SpaceX through Starlink to collect unpaid penalties and seized roughly $3.3 million from the companies’ accounts.

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Moraes also imposed daily fines of up to R$5 million, about $920,000, for alleged evasion of the X ban and established penalties of R$50,000 per day for VPN users who attempted to bypass the restriction.

Brazil remains an important market for X, with roughly 17 million users, making it one of the platform’s larger user bases globally.

The country is also a major market for Starlink, SpaceX’s satellite internet service, which has surpassed one million subscribers in Brazil.

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FCC chair criticizes Amazon over opposition to SpaceX satellite plan

Carr made the remarks in a post on social media platform X.

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Credit: @SecWar/X

U.S. Federal Communications Commission (FCC) Chairman Brendan Carr criticized Amazon after the company opposed SpaceX’s proposal to launch a large satellite constellation that could function as an orbital data center network.

Carr made the remarks in a post on social media platform X.

Amazon recently urged the FCC to reject SpaceX’s application to deploy a constellation of up to 1 million low Earth orbit satellites that could serve as artificial intelligence data centers in space.

The company described the proposal as a “lofty ambition rather than a real plan,” arguing that SpaceX had not provided sufficient details about how the system would operate.

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Carr responded by pointing to Amazon’s own satellite deployment progress.

“Amazon should focus on the fact that it will fall roughly 1,000 satellites short of meeting its upcoming deployment milestone, rather than spending their time and resources filing petitions against companies that are putting thousands of satellites in orbit,” Carr wrote on X.

Amazon has declined to comment on the statement.

Amazon has been working to deploy its Project Kuiper satellite network, which is intended to compete with SpaceX’s Starlink service. The company has invested more than $10 billion in the program and has launched more than 200 satellites since April of last year.

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Amazon has also asked the FCC for a 24-month extension, until July 2028, to meet a requirement to deploy roughly 1,600 satellites by July 2026, as noted in a CNBC report.

SpaceX’s Starlink network currently has nearly 10,000 satellites in orbit and serves roughly 10 million customers. The FCC has also authorized SpaceX to deploy 7,500 additional satellites as the company continues expanding its global satellite internet network.

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Energy

Tesla Energy gains UK license to sell electricity to homes and businesses

The license was granted to Tesla Energy Ventures Ltd. by UK energy regulator Ofgem after a seven-month review process.

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Credit: Tesla Energy/X

Tesla Energy has received a license to supply electricity in the United Kingdom, opening the door for the company to serve homes and businesses in the country.

The license was granted to Tesla Energy Ventures Ltd. by UK energy regulator Ofgem after a seven-month review process.

According to Ofgem, the license took effect at 6 p.m. local time on Wednesday and applies to Great Britain.

The approval allows Tesla’s energy business to sell electricity directly to customers in the region, as noted in a Bloomberg News report.

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Tesla has already expanded similar services in the United States. In Texas, the company offers electricity plans that allow Tesla owners to charge their vehicles at a lower cost while also feeding excess electricity back into the grid.

Tesla already has a sizable presence in the UK market. According to price comparison website U-switch, there are more than 250,000 Tesla electric vehicles in the country and thousands of Tesla home energy storage systems.

Ofgem also noted that Tesla Motors Ltd., a separate entity incorporated in England and Wales, received an electricity generation license in June 2020.

The new UK license arrives as Tesla continues expanding its global energy business.

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Last year, Tesla Energy retained the top position in the global battery energy storage system (BESS) integrator market for the second consecutive year. According to Wood Mackenzie’s latest rankings, Tesla held about 15% of global market share in 2024.

The company also maintained a dominant position in North America, where it captured roughly 39% market share in the region.

At the same time, competition in the energy storage sector is increasing. Chinese companies such as Sungrow have been expanding their presence globally, particularly in Europe.

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