Tesla sets price of China-made Model Y SUV below competitors

Tesla Inc. will start deliveries of its China-made Model Y SUV this month to customers in the country. The Model Y starts from 339,900 yuan ($52,074),
...
Tesla Model Y has gone on sale in China.
Tesla Model Y has gone on sale in China.

Tesla Inc. will start deliveries of its China-made Model Y SUV this month to customers in the country, as it set the vehicle at a price below some of its rivals to maintain a competitive edge.

The Model Y starts from 339,900 yuan ($52,074), while the Model Y Performance car will be from 369,900 yuan, Tesla China said in a statement on Friday. Tesla Chief Executive Officer Elon Musk has said the Model Y has the potential to outsell all other vehicles it makes.

Also check these Cars

Find more Cars
Tesla Model S (HT Auto photo)
UPCOMING
75 kWh 200 396 km
₹70 Lakhs - 1 Cr
View Details
Tesla Model 3 (HT Auto photo)
UPCOMING
82kWh 225 kmph 555 km
₹ 70 - 90 Lakhs
View Details
Lexus Es (HT Auto photo)
2487.0 Multiple Both
₹ 56.55 - 62.19 Lakhs
Compare
View Offers
Bmw I4 (HT Auto photo)
83.9 kWh 250 Kmph 493 Km
₹ 69.90 Lakh
Compare
Volkswagen Id.7 (HT Auto photo)
UPCOMING
77 kWh 621 Km
₹ 70 Lakhs
View Details
Hyundai Creta (HT Auto photo)
1497 cc Multiple Both
₹ 11 - 20.15 Lakhs
Compare
View Offers

Also Read : When, how and what of Tesla's India entry

Tesla also launched a modified Model 3 sedan which remained at a post-subsidy price of 249,900 yuan for the basic version. The Model 3 qualifies for China’s national subsidy for electric vehicles, while the Model Y doesn’t.

Tesla’s Dominant Position in China Could Be Threatened Next Year

China is Tesla’s largest market after the U.S., with sales in Asia’s biggest economy topping 120,000 units in 2020, according to the latest local registration data. Tesla is still ramping up production in Shanghai, prompting analysts to forecast that China will account for a bigger slice of its sales and earnings going forward.

The Model Y, an SUV crossover that has a driving range of up to 594 kilometers (369 miles), is expected to help the electric carmaker expand its product lineup and target a bigger customer base.

Tesla regularly topped monthly premium electric vehicle sales tallies in 2020, helped by the sedans coming out from its multi-billion-dollar plant that was launched with much fanfare in Shanghai the year before. Still, last year was also marked by rivals catching up, and 2021 is expected to hand the company stiffer competition.

Also Read : Tesla short sellers lost $38 billion in 2020 as stock surged

A trio of local champions Nio Inc., Xpeng Inc. and Li Auto Inc. has emerged. They are enjoying backing from government entities or internet giants, and the three startups are quickly winning fans, with sales of their electric SUVs, sedans and crossovers rising in 2020 and their shares surging. Nio’s electric SUV for example, sells at 368,000 yuan or more.

First Published Date: 02 Jan 2021, 13:34 PM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.