Tesla has introduced an upgraded Model Y in China, featuring enhanced design and functionality, priced from 263,500 yuan ($35,900), as the company seeks to reclaim market share in the highly competitive EV market.
Tesla has launched a revamped Model Y in China, featuring updated design and enhanced interior features, to regain market share lost to competitors like Xiaomi.
Priced from 263,500 yuan ($35,900), 5.4% higher than the previous model, deliveries are expected to begin in March pending regulatory approval.
While the Model Y became the world’s best-selling car in 2023, Tesla’s share of China’s BEV market fell to 10.4% in 2024, down from 11.7% the previous year, amid fierce local competition. The new Model Y aims to bolster Tesla’s position in the world’s largest EV market.
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