China: Tesla lowers prices for two Model Y variants
Tesla has again lowered the prices for its Model Y in China. The new price reduction concerns the Model Y Long Range and the Model Y Performance, which now cost 14,000 yuan (approx. 1,760 euros) or about four per cent less.
The Model Y Long Range is now available in China from 299,900 yuan (approx. 37,780 euros), and the Model Y Performance from 349,900 yuan (approx. 44,080 euros). The base price of the Model Y with rear-wheel drive remains unchanged at 263,900 yuan (approx. 33,250 euros). In other words, only the all-wheel-drive models with NCA round cells from LGES have become cheaper; the price for the rear-wheel-drive version with prismatic LFP cells from CATL remains the same.
Tesla had already significantly reduced the prices for all Model Y and Model 3 cars in China in January this year, triggering price cuts for many competitors. The current price reduction also affected them, as their share prices fell – for example, at BYD, Leapmotor and Xpeng.
There is also a customer promotion for the Model 3, but not a price reduction: Tesla is now offering an insurance subsidy of 8,000 yuan for the basic version of the Model 3 in China, limited until the end of September. This insurance subsidy is not available for the Model 3 Performance (the Long Range with all-wheel drive is currently not offered in China).
Meanwhile, the new edition of the Tesla Model 3 is reportedly about to start series production in China. Delivery times for the current-generation Model 3 in China are one to four weeks, and two to six weeks for the Model Y.
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