Tesla Launches Revamped Model Y in China, With a Starting Price of $35,935
Tesla has launched a revamped version of its popular Model Y in China, with a starting price of 263,500 Chinese yuan ($35,935). The new model goes into production in March and is only available for pre-order in the Chinese market.
The starting price of the new Model Y is 5.4% higher than the previous model, and the company is offering a range of incentives, including a five-year 0% interest financing plan, to attract customers. The new Model Y can accelerate from 0 to 100 kilometers per hour in 4.3 seconds, making it the fastest model in its class.
The revamped Model Y has a more advanced cockpit and semi-autonomous driver assistance features, making it a compelling option in a crowded market. The company is expecting strong demand for the new model, which is expected to be a top seller in China, where it will face stiff competition from domestic rivals such as BYD, Xpeng, and Nio.
The launch of the new Model Y comes as Tesla faces intense competition in the global market, with established carmakers and new entrants vying for market share. The company’s deliveries declined for the first time in 2024, but its stock has risen nearly 70% over the past 12 months, partly due to CEO Elon Musk’s relationship with U.S. President-elect Donald Trump.
