UPDATE 4-Tesla launches new Model 3 in China with longer range

Tesla on Friday unveiled a restyled, made-in-China Model 3 with a longer driving range, the first time the automaker has launched a new model in China ahead of the United States. The new model, which is being built at Tesla's Shanghai plant, comes with a starting price 12% higher than the previous, base model in China. At the same time, Tesla cut the prices for its premium Model S and Model X by between about 14% and 21%, in China and the U.S., its two biggest markets.