Chinese Automakers Offer Discounts to Lure Tesla Owners After Model Y Price Hikes

China's automakers like Nio, Xpeng, and Chery are offering discounts and incentives to take advantage of Tesla raising Model Y prices in China
Nio offering up to $138M in swap benefits, assisted driving subscriptions, and a free phone to attract Tesla customers
Xpeng cutting prices by up to $3k on some models
Chery covering purchase taxes and offering better trade-in values
Competition intense in China auto market despite Tesla's popularity, with Tesla recently cutting Shanghai factory production