Tesla has launched a modified version of the Model Y in China.
Tesla
Tesla The American electric car company on Friday announced a revamped version of its popular Model Y in China, as the American electric car giant looks to face challenges from local rivals.
Pricing for the Model Y will start at CNY 263,500 ($35,935), with deliveries scheduled to begin in March. A Tesla China spokesperson said the new Model Y is only open for pre-sale in the Chinese market, rather than a global launch.
The Tesla Model Y update comes after the auto giant announced it this month First ever annual decline in total deliveries for 2024.
Elon Musk's electric car company faces stiff competition around the world, from startups and traditional automakers in Europe. In China, the company still faces an onslaught of competitors BYD For new players like Exping and New.
Tesla is offering a number of incentives for customers to purchase the Model Y including a five-year 0% financing plan.
This story is being updated. Please check back for more information.
