Tesla releases refreshed Model Y in China, preps cheaper version for future: 'You will know after trying it'
Tesla has started delivering its revamped Model Y in China.
Announced on Feb. 26 through Tesla's Weibo account, according to Teslarati, these new crossovers are rolling out of Tesla's Shanghai factory. Reports suggest the company completed nearly 7,000 deliveries in the first week.
Tesla sales have been in a massive worldwide slump, including in China, as The Atlantic detailed, where local EV companies have gained significant ground on the American automaker. Tesla still sold nearly half a million Model Ys in China in 2024, but the company's total EV sales dropped 49% year over year in February. CEO Elon Musk and Co. are surely hoping this refreshed version can help to turn the brand's momentum back around in at least one market.
Tesla's release of the Model Y in China comes at an odd time, though, as news broke on Friday that the company is also working on a cheaper Model Y for the Chinese market to compete with cheaper EVs there, costing 20% less to make, Car and Driver reported. It remains to be seen whether this news could impact sales of the more expensive Model Y in the meantime, as would-be buyers may be confused by the prospect of a cheaper option under the same model coming soon.
Like all EVs, the Model Y can save money on fuel costs over time. More people switching to electric also means cleaner air. EVs cut down on pollution, giving the environment a much-needed break.
In the announcement that Teslarati relayed, Tesla China noted: "Congratulations to the car owners! As we said before: Just compare, you will know after trying it."
Some EV fans in China expressed excitement about the release.
On X, formerly known as Twitter, Tsla Chan (@Tslachan) posted, "Tesla China began delivering the new Model Y on Feb. 26, and successfully delivered 6,660 units last week."
Teslarati (@Teslarati) chimed in, writing, "Awesome look at Tesla's deliveries of the new Model Y in China! At one point, Tesla had accumulated 170,000 reservations for this vehicle."
Tesla's stock price has plummeted in recent weeks, dropping to under $250 per share on a consistent basis over the last week after a high of $488.54 on Dec. 18. Massive sales for the Model Y or any other of the company's releases could help to turn that back around.
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