Tesla has launched an improved version of Model Y in China.
Tesla
Tesla The U.S. electric car giant announced the launch of a revamped version of its popular Model Y in China on Friday as it faces challenges from domestic rivals.
Model Y starts at 263,500 yuan ($35,935), with deliveries expected to begin in March. A Tesla China spokesperson said that the new Model Y is only open for pre-sale in the Chinese market and has not been launched globally.
Tesla’s Model Y update comes after the auto giant reported this month that its Overall deliveries in 2024 post first annual decline.
Elon Musk’s electric car company is facing stiff global competition from European startups and legacy automakers. In China, the company continues to face fierce attacks from rivals. BYD For new players like this Xpeng Motors and Nioh.
Tesla offers several incentives to customers who buy Model Y, including a five-year zero-interest financing plan.
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