China’s Xpeng Cuts Prices On Some Models Starting Tuesday

BEIJING (Reuters) – Chinese automaker Xpeng on Tuesday announced price cuts for some models in the country in a notice on its official WeChat account.

The move came after automaker Seres Group cut starting prices for its Aito electric cars by 30,000 yuan ($4,440) last Friday, following earlier price cuts by Tesla (TSLA.O) and fuelling expectations of a wider price war.

($1 = 6.7610 yuan)

(Reporting by Beijing Newsroom; Editing by Tom Hogue)