Tesla on Monday cut the prices of its Model Y crossover in a standard range rear-wheel-drive (RWD) configuration by RMB 28,000 ($3,925) to RMB 288,900, making it eligible for China’s EV purchase subsidies which are set to expire at the end of the year. The price of the Model Y long-range version decreased by RMB 37,000 to RMB 357,900, while Tesla’s entry-level Model 3 standard range version decreased from RMB 279,900 to RMB 265,900, the electric carmaker’s website showed. The Chinese central government is due to completely phase out the direct incentives for EV purchases at the end of 2022, with an upper limit of RMB 300,000 for vehicle prices. [The Paper, in Chinese]