China's Xpeng cuts prices on some models starting Tuesday

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BEIJING (Reuters) - Chinese automaker Xpeng (NYSE:XPEV) on Tuesday announced price cuts for some models in the country in a notice on its official WeChat account.

The move came after automaker Seres Group cut starting prices for its Aito electric cars by 30,000 yuan ($4,440) last Friday, following earlier price cuts by Tesla (NASDAQ:TSLA.O) and fuelling expectations of a wider price war.

($1 = 6.7610 yuan)