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Tesla Introduces Revamped Model Y in China to Counter Growing Competition

11:41

Tesla has unveiled a redesigned version of its best-selling Model Y in China, featuring a refreshed exterior and upgraded interior. The automaker hopes these enhancements will help reclaim market share in the highly competitive Chinese electric vehicle (EV) market.

The new Model Y, which remains the world's top-selling EV, starts at 263,500 yuan (approximately $35,900), reflecting a 5.4% price increase from the previous version. Deliveries are scheduled to begin in March, pending regulatory approval. Details on its availability in other markets are yet to be disclosed.

This updated version includes a full-width front light bar reminiscent of Tesla's Cybertruck, along with a redesigned tail light. Interior upgrades offer improved comfort with heated and ventilated seats and a touchscreen for rear passengers. Additionally, the long-range variant now boasts a driving range of 719 kilometers per charge, up from the previous 688 kilometers.

Originally launched in 2020, the Model Y gained global recognition as the best-selling car in 2023. However, increasing competition in China and declining EV demand in some regions have impacted its sales momentum.

Chinese automakers have been steadily gaining ground in the EV sector, leveraging advanced smart features to attract consumers. Tesla's market share in China’s EV segment declined to 10.4% in 2024, down from 11.7% the previous year. The company plans to introduce a six-seat version of the Model Y in China later this year as part of its efforts to maintain its position in this critical market.

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