Tesla has launched a new version of its best -selling model Y in China, aiming to withdraw its share in the market with local competitors such as BYD and Xiaomi. The new model Y has a new design, advanced features and better range to attract buyers in other markets of China and Asia Pacific. Model designed in Asia Y: Can it beat local rivals?
New design and features
The re -designed model Y has a new light bar on the front side, reminiscent of Tesla's future cybercatrak, and is a full width tail light on the back. Inside, the SUV provides better rest with hot and ventilated seats suitable for all weather conditions. In the second line, passengers will also get a dedicated touchscreen for additional convenience.
One of the best upgrade is better driving range. The longrange variant now increases from 688 km to 719 km per charge, making it a strong contender in the EV market.
According to the report by price and availability Reuters, Tesla has priced the updated model Y price 263,500 yuan (USD 35,900), which is about 5.4 percent higher than the previous version in China. The delivery in China is expected to begin in March, the regulatory approval is pending. Tesla is also taking orders in other Asia Pacific markets, although details of North American and European launch are not yet available.
Challenge the competition
Model Y, originally launched in 2020, became the world's best -selling car in 2023. However, the pace of sales has slowed down due to increasing competition, especially in China. Tesla's market share in China's battery electric vehicle (BEV) segment declined from 11.7 percent to 10.4 percent in 2023 last year.
Local rivals like Byd and Xiaomi have made significant progress. Xiaomi's first EV, SU7, delivered more than 130,000 units last year, and the company plans to launch its first SUV, YU7 by mid -2025. Xpeng is also going to launch its G7 model soon, which will have the same features as the model Y.
According to the counterpoint's auto analyst Shaochen Wang, the competition is very link. “The young designs and advanced technical features of Xiaomi and Exg make him directly competitive to Tesla's model Y,” Wang said. Its competition may also be interrupted against local brands with advanced smart driving capabilities with Tesla not being fully deployed by Tesla in China.
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Image Credit: KhasKhabar.