Electric car manufacturer Tesla will price its flagship Model S at 734,000 yuan (US$121,259) in China, Shanghai Securities News reported Friday. The car has an US$81,070 base price and nearly half that amount in added costs such as transport, tariff, value-added tax and other levies. The price, described by Tesla as fair and right, came as a surprise to many as the car had been expected to fetch more than 1 million yuan, the report said. Tesla will build a supercharger network in China in addition to a showroom and a service center in Beijing. It plans to expand the network to Shanghai. Last year, Tesla sold 22,300 Model S worldwide but chief executive Elon Musk is cautiously optimistic about the Chinese market, the report said.
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