- On Friday, Tesla unveiled an updated version of its widely favored Model Y in China, as the American electric vehicle leader aims to counter competition from local manufacturers.
- The Model Y will start at 263,500 Chinese yuan ($35,935), with deliveries set to begin in March.
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Tesla on Friday announced a revamped version of its popular Model Y in China, as the U.S. electric car giant looks to fend off challenges from domestic rivals.
The starting price for the Model Y is set at 263,500 Chinese yuan ($35,935), with deliveries expected to commence in March. According to a representative from Tesla China, the new Model Y is currently available for pre-sale exclusively in the Chinese market and is not being introduced on a global scale.
Tesla's Model Y refresh comes after the auto giant this month reported its first ever annual decline in overall deliveries for 2024.
Elon Musk's electric vehicle firm is facing heightened competition around the world, from startups and traditional carmakers in Europe. In China, the company continues to face an onslaught of rivals from BYD to newer players like Xpeng and Nio.
Tesla is providing several incentives for customers interested in purchasing the Model Y, including a five-year financing option with 0% interest.
