Reuters – Tesla Inc (TSLA.O), started accepting orders for its new Model Y L in China on Tuesday with a starting price of 339,000 yuan ($47,184), its website showed, as it refreshes its line-up in the world’s largest auto market to battle growing competition.
Tesla first launched the Model Y in 2020 and it became the world’s best-selling car in 2023. The ageing model lost some sales momentum last year, hurt by competition from local rivals in China such as Xiaomi’s (1810.HK), YU7, while in other markets demand for electric vehicles has weakened.
In January, Tesla launched a new version of the Model Y with a redesigned exterior and upgraded features in Asia Pacific markets and in July registered plans with Chinese authorities for the new Model Y L.
A longer-range, rear-wheel drive Model 3 is also coming to the Chinese market, according to filing information published on China’s industry ministry website in July.
Elon Musk’s Tesla registered an 8.4% fall in July sales of its China-made electric vehicles.
($1 = 7.1846 Chinese yuan)
Reporting by Liz Lee, Shanghai newsroom and Brenda Goh; Editing by Himani Sarkar
Source: worldautoforum.com
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