A BMW iX3 electric SUV is on display during 2020 Beijing International Automotive Exhibition (Auto China 2020) at China International Exhibition Center on September 26, 2020 in Beijing, China.
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BEIJING — German automaker BMW has cut prices for its all-electric iX3 SUV in China, bringing the car into closer competition with vehicles from Tesla and Chinese start-ups like Nio.
BMW’s website said as of Thursday, the recommended retail price for the iX3 will start at 399,900 yuan ($61,713).
That’s down 70,100 yuan — or about $10,800 and 15% cheaper — versus the original price of 470,000 yuan announced in September.
“For its size the iX3 would be competing directly vs. the Tesla Model Y & NIO ES6 which both have starting prices substantially less than the iX3 prior to this cut, so BMW must’ve seen softness in the demand for the iX3 at that