Source: Gasgoo Author: Xing Yun
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According to Bloomberg, Tesla is preparing to launch an improved version of its best-selling Model Y at its Shanghai factory as Chinese rivals accelerate the launch of new products amid fierce competition.
It is reported that Tesla is currently preparing for its new Model Y in China, and mass production may begin as early as mid-2024. People familiar with the matter said that the exterior and interior changes of the 2024 Model Y will be much more obvious than the latest version in October, which added a new wheel design and ambient lighting.
One of the people familiar with the matter said that the first batch of the latest Model Y will be produced in the second phase of Tesla’s Shanghai factory, but the plant will need to undergo more adjustments before mass production.
A Tesla China spokesperson declined to comment in response to the reports.
Image source: Tesla
Tesla’s Shanghai factory was established in 2019 and currently produces electric vehicles that account for more than half of Tesla’s global deliveries. Model Y was first launched in 2020 and is currently very popular and has become the best-selling electric model in the world. In China, Model Y deliveries account for nearly 75% of Tesla’s total sales in the country, according to data compiled by Bloomberg Intelligence.
Tesla’s rivals in China, including established automakers such as BYD and newcomers such as Xpeng, are launching a series of new vehicles to increase their share in various market segments. Therefore, earlier this year, Tesla updated the 6-year-old Model 3 model, hoping to attract customers with a more fashionable appearance and longer cruising range. The new Model Y is launched this time for the same reason.
