Tesla unveils price of Model S in China

Model S displayed in a Tesla showroom in Beijing.
ChinaFotoPress | Getty Images
Model S displayed in a Tesla showroom in Beijing.

Tesla Motors announced on its blog that Model S will be sold for 734,000 yuan—equivalent to about $121,290—in China, about $40,000 more than in the United States.

"If we were to follow standard industry practice, we could get away with charging twice as much for the Model S in China as we do in the U.S.," Wednesday's blog post said. Instead, Tesla said the price is "much lower than its competitors" because it wants to "treat our Chinese customers just as well as we'd treat customers in any other country."

(Read more: Tesla gains onstrong sales; government issues 'recall')

Tesla, the Palo Alto, Calif.-based maker of electronic vehicles founded by billionaire Elon Musk, finished strong last year with record-high sales from the fourth quarter of 2013. Its Model S won the 2013 Motor Trend Car of the Year award.

—By CNBC.com.

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