Tesla Announces Plan to Launch a More Affordable Model Y in China

The Chinese market is set to receive a new variant of Tesla's popular Model Y car, which will come at a significantly lower price point than its current counterparts. According to reports, the upcoming model will offer the same core functionality as the existing Model Y, but with a more streamlined configuration that will enable rapid product launches.

The company's China team is expected to take the lead in developing and launching this new model, which marks a significant departure from Tesla's usual naming conventions for its vehicles. Unlike its previous low-end model in Mexico, such as the reduced-value variant of the Model 3, which targeted consumers with fewer features like a single-color ambient light, half-peppered half-woven seats, eliminated rear-entertainment screen for rear seat passengers, seat heating and cooling discontinued, all these features are not included in this new lower model.

It remains to be seen if the exact positioning and pricing of this more affordable option will be revealed by Tesla soon. The plan calls for new Model Y's launch timing dependent on first sales performance with if sales result less than prediction then this brand-new lower priced car is going to be launched at end of next year (2024).