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Electric car makers raise prices in China for the second time after cutting prices in January.

Tesla has raised the prices of the performance and long-range versions of its mid-size sport utility vehicles (SUV) Model Y in China, according to its Chinese website.

Information on the website shows that the electric car company has raised the prices of the models by 2,000 yuan ($290) to 311,900 yuan ($45,360) and 361,900 yuan ($52,600) respectively.

This is the second time Tesla has raised prices after slashing prices of all Model 3 and Model Y cars by 6-14 percent in its second-largest market in early January.

The price cut had stifled demand but the boom for the Model 3 in China shows signs of abating.

Model 3 sales quadrupled in January after the base price was cut by about 14 percent. But for the first week of February, sales were down by more than two-thirds from the end of January, data from China Merchants Bank International showed. In contrast, Model Y sales remained stagnant.

Tesla on Tuesday raised the price of the performance version of the Model Y by $1,000 in the United States, while cutting the price of the rear-wheel drive Model 3 sedan by $500.

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