Tesla is developing a budget-friendly Model Y in China to compete with lower-priced electric vehicles.

From NASDAQ: 2025-03-14 08:36:05

Tesla is working on a more affordable version of the Model Y at its Shanghai factory to regain market share in China. The new model will aim to cut costs by 20-30% compared to the current starting price of $36,400 in China.

The budget-friendly Model Y will first launch in China before potential availability in the U.S. and Europe. Tesla faces tough competition from Chinese automakers offering lower-priced electric vehicles with advanced features.

Test production of the cheaper Model Y is set for the third quarter of this year, with mass production expected in early 2026. Tesla’s stock is currently trading at $246.78, up 2.53% in pre-market trading on the Nasdaq.



Read more at NASDAQ: Tesla Develops Low-Cost Model Y To Regain Market Share In China – Reports