Even though some China residents aren’t so pleased with Elon Musk, this is certainly not retaliation against them via Tesla, another company led by Musk.

But to cut the long story short, Tesla has recently jacked up the price of two variants of its electric vehicles in China.

The report was announced via the company’s Chinese official website where it revealed that the pricing for the rear-wheel-drive variant of the Model 3 and Model Y have been hiked.

As of now, the new price for the Model 3’s rear-drive variant is about US$42,000 (or about CNY 266,652) which is a US$1,575 (or about CNY 10,000) increase over the original price tag.

Then the other one that got a price hike is the rear-wheel-drive variant of the Model Y which got a US$3,320 (or CNY 21,000) increase which brings the price to about US$47,560 (CNY 301,840).

In terms of performance, the Model Y offers a 545-kilometer range on a single charge and can reach a top speed of 217Km/h.

The car can also do 0 to 100Km/h in just 6.9 seconds. On the other hand, the Model 3 offers a top speed of 225km/h with a max range of 556-kilometers on a single charge. The car can also do 0 to 100Km/h in just 6.1 seconds.

And if you’re wondering why Tesla has decided to increase the price of its base models, well, there isn’t any official reason given but there are rumors that this might be linked to the industry-wide chip shortage.

There is also a rise in chip costs due to the high demands and product shortages.

Until Tesla makes it known, probably via a tweet from Elon Musk, later on, we don’t have an official idea why the company is jacking up the price point of its base EV models.