“`html
Tesla, Inc. (TSLA) has launched a new long-range rear-wheel-drive Model Y in China, offering up to 821 km of range and priced at RMB 288,500 (approximately $40,500). This announcement comes as Tesla’s sales in China plummeted to 26,006 units in October, a 35.8% decline year-over-year and the lowest in three years, according to the China Passenger Car Association.
Tesla’s market share in China has dropped to 3.2% from 8.7% in September, amidst increasing competition from local EV manufacturers like XPeng and NIO, which are offering similar range models at lower prices. Despite the decline in domestic demand, Tesla’s exports from its Shanghai plant increased to 35,491 units in October, the highest in two years.
The new Model Y+ is part of Tesla’s strategy to regain traction in the highly competitive Chinese EV market, which is seeing consistent growth, particularly before planned incentives tighten in 2026.
“`
