(Jan 10): Tesla Inc officially launched its refreshed Model Y sport utility vehicle in China on Friday and started to take orders, its website showed.
The model, historically one of China’s best-selling electric vehicles, should start to ship to customers in March after gaining the necessary regulatory approvals. Its China release comes ahead of a release in the US. The basic rear-wheel drive version of the Model Y Juniper will start from 263,500 yuan (US$35,900 or RM161,478).
The car has an updated exterior and interior design and can run for almost 600 kilometres (373 miles) on a single charge. It retains its distinguishing raindrop body shape and some motoring enthusiasts have commented on its front-end design, which has a thin LED running light unit reminiscent of Tesla’s Cybertruck.
Tesla needs to inject more excitement into its lineup in China as domestic brands like BYD Co take market share. Elon Musk’s carmaker recorded its first-ever drop in annual shipments from its Shanghai plant last year since the facility started mass production in 2020.
That’s a sign of the intensifying local competition and lukewarm global demand — Tesla’s China plant makes Model 3 sedans and Model Y SUVs for export abroad as well as domestic consumption.
To clear stock of some of its older version Model Ys, Tesla is now offering a 10,000-yuan price cut on the car’s original 249,000-yuan listing price, with a five-year, interest-free mortgage plan. The US automaker also on Friday increased the cost of its China-built Model 3, raising the starting price to 235,500 yuan from 231,900 yuan.
To help underpin sales of fuel-efficient vehicles, including electric cars and hybrids, Beijing earlier this week renewed a trade-in subsidy of up to 20,000 yuan. The pool of old vehicles that qualify for the programme has also been widened, according to a policy document published Wednesday.
The cash-for-clunkers programme gave a big boost to sales — especially of EVs and hybrids — after its introduction last year, with more than 3.7 million vehicles purchased under the programme.
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