Tesla Inc. has raised prices on its Model X and S cars by more than $20,000 in China, automotive news website Electrek reported on Monday, making it one of the first U.S. carmakers to hike prices in the wake of rising trade tensions.
China slapped tariffs on U.S. car imports on Friday in response to President Donald Trump's move to impose duties on $34 billion worth of Chinese goods.
Tesla has been banking heavily on China, the world's largest automotive market, to boost sales of its electric cars and has plans to build a factory in the country.