Tesla says Model Y L is 'coming soon'

Tesla announced on Monday via the Chinese social media platform Weibo that its Model Y L is "coming soon," following earlier plans to introduce the new model in China.

The Model Y L, a six-seat version of the popular Model Y with an extended wheelbase, was showcased in a video Tesla posted on Weibo.

This move comes as Tesla revamps its lineup in response to increasing competition, including Xiaomi’s newly launched YU7 electric vehicle.

Elon Musk's company reported an 8.4% decline in sales of its China-made electric vehicles for July, as Chinese rivals continue to offer more affordable electric vehicles (EV's) amid an ongoing price war that has impacted automakers, suppliers, and dealerships.

Additionally, a new, longer-range, rear-wheel drive Model 3 is expected to enter the Chinese market, according to filings with China’s industry ministry in July.

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