Tesla recently lowered the price of the entry-level China-made Model 3 again, which was speculated to be due to the model's use of lithium iron phosphate batteries, a speculation that has now been officially confirmed.

Tesla China yesterday in its WeChat account post, the update of the Model 3 standard range upgrade from the original lithium-ion three-dollar battery to lithium iron phosphate, its energy as if a larger "fuel tank", so that the Model 3 standard range upgrade in the national standard working conditions under the law of the integrated range of mileage to reach 468 km.

Tesla also said that both batteries meet Tesla's manufacturing and range standards, and each has its own advantages that make it an exceptional driving experience.

Tesla China announced on October 1 that the China-made Model 3 standard range upgrade is priced at RMB 249,900 after subsidies, while the China-made Model 3 long-range rear-wheel-drive version is priced at RMB 309,900.

Before that, the standard range upgrade is priced at RMB 291,800, while the long-range rear-wheel-drive version is priced at RMB 344,100.

Tesla also said that the Chinese-built Model 3 has been well received since its official delivery from the Shanghai plant and that the manufacturing process has been upgraded.

Tesla retains only a reasonable profit for the expansion of production, and any excess profit is immediately translated into price discounts for consumers, allowing more environmentally conscious people to join Tesla in driving the world's transition to sustainable energy, the company said.

To date, Tesla has built more than 440 Supercharger stations in China, covering about 90 percent of the country's densely populated cities, and will build another 4,000 Superchargers, including V3, by 2020.