Investing.com– Tesla Inc (NASDAQ:TSLA) launched a revamped model of its Mannequin Y crossover SUV in China on Friday with up to date exteriors and interiors and an extended claimed vary, as the electrical automobile maker grapples with heightened competitors within the nation.
Tesla mentioned the brand new Mannequin Y will are available in two variants, ranging from 263,500 yuan ($35,900) for the rear-wheel-drive, and 303,500 yuan for the all-wheel-drive model, which will even sport elevated vary.
Deliveries of the brand new Mannequin Y, which updates Tesla’s hottest mannequin in China, will start in March.
The rear-wheel-drive model will include a battery capability of 62.5 kilowatt/hours and has a claimed vary of 593 kilometers, Tesla mentioned, whereas the all-wheel-drive model can have a battery capability of 78.4 kwh with a claimed vary of 719 km.
The Mannequin Y is Tesla’s hottest automobile in China, and has been manufactured at Tesla’s Shanghai Gigafactory since 2020.
China is Tesla’s second-largest market, with the corporate promoting a record-high 657,000 automobiles within the nation in 2024.
However regardless of the report gross sales, Tesla has been steadily shedding market share in China, amid heightened competitors from home gamers resembling BYD (SZ:002594) and new entrant Xiaomi (OTC:XIACF).
Tesla’s margins had been additionally eroded by a bitter value warfare in China, which the EV maker escalated over the previous two years by steadily slashing its costs.
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