Tesla slides 3% in premarket, Li Auto sinks 8% as EV makers slash prices amid fierce competition
KEY POINTS
Tesla reportedly cut the starting price of its Model 3 in China to 231,900 yuan ($32,000) on Sunday, a reduction of 14,000 yuan.
Chinese rival, Li Auto, also cut prices for its models, including the L7, L8, L9, and the newly launched MEGA SUV.
Hong Kong-listed shares of Li Auto plummeted to an 1...