The Model S starts at RMB 789,900 ($115,000) in China and the Model X at RMB 879,900.
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Xiaomi's first model will compete with Tesla's Model 3 sedan, but is stronger in size, and performance and similarly positioned to the XPeng P7, according to local media.
Tesla has cut the prices of its entire Model 3 and Model Y lineup by as much as 48,000 yuan in China to boost demand in the world's largest EV market.



