This week in EVs: Price hikes and pay bumps | Pro Recap

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Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Tesla’s China price change; Ford resumes construction; and VW boosts wages.

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Electric vehicle (EV) giant, Tesla Inc (NASDAQ:TSLA) announced Tuesday that it has increased the price of its Model Y Long Range Dual Motor All-Wheel Drive (AWD) in China, indicating a healthy appetite for the all-electric crossover.

According to Tesla China's announcement on local social media platforms, the Model Y Long Range now carries an increased price tag of RMB 304,400 ($42,741), up by RMB 2,000 yuan ($280) from its previous price.

Previously listed at RMB 302,400 ($42,460), the recent increase translates to a modest 0.66% rise in the Model Y Long Range's price. This latest adjustment is the fourth within a month by Tesla China.

In late October, Tesla raised the price of its Model Y Performance by RMB 14,000 ($1,965). The adjustment was followed by additional adjustments to the company’s Model 3 Long Range and Model Y Long Range on November 9th. Tesla followed those adjustments by raising the price of its Model 3 Rear Wheel Drive and Model Y Rear Wheel Drive on November 14th.

However, unlike past changes silently made on the official order pages, these adjustments were notably pre-announced.

Some industry observers believe this strategy aims to stimulate immediate purchases, leveraging media communication to encourage swift customer action amidst Tesla's evolving pricing structure.

Shares of TSLA ended the week up 0.569% on Friday.

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Also announced Tuesday,