Tesla Extends Slide On Latest China EV Price War Offensive; New Model 3 Launch Nears

News Snapshot:

Tesla (TSLA) fired another shot in the EV price war, nearly doubling discounts on its luxury Model S and Model X vehicles in China on Wednesday. Meanwhile, Tesla's updated Model 3, code-named Highland, is set for an imminent release in China with some stores already taking reservations, according to local reports. TSLA edged lower. X Tesla is now offering discounts between RMB 54,000 ($7,400) and RMB 70,000 ($9,600) for customers in China buying inventory Model S and Model X vehicles, according to CnEVPost. On July 1, Tesla started discounts in China of RMB 35,000 ($4,800) to RMB 45,000 ($6,200) for...