Tesla Unveils a Revamped Model 3 in China. The Competition Is Stiffening.

Tesla overhauled its range of products in China— including a new version of the Model 3—as the electric-vehicle maker run by billionaire Elon Musk tries to boost sales in the biggest market for EVs. The revamped version of Tesla’s cheaper Model 3 comes with a longer range but also a higher price, up about 12% to around $36,000. Tesla (ticker: TSLA) also slashed prices on its expensive Model S and Model X cars, which start at about $100,000.