Tesla to Launch Cheaper Model Y in China Amid Growing Competition, Report Says | Global News Avenue

Tesla (TSLAAccording to Friday’s report Reuters.

The news agency quoted three people familiar with the matter as saying the vehicle will be produced in large quantities at Tesla’s Chinese factory in 2026. The cost of production may be at least 20% less, with a retail price of less than the current base price of the Y model of $263,500 ($36,405) and a retail price of $263,500 ($36,405) for the retail price of $263,500 ($36,405) for the Y model. Reuters Report.

Reuters A cited anonymous source says the low-cost model Y will eventually be launched in North America and Europe, but it is not available schedule. Tesla did not immediately respond to a request for comment.

Low-cost electric cars have long been Tesla’s target, CEO Elon Musk Reject report Last year, the company abandoned the project. Musk is The recent quarters Tesla is Proper production And launch Low cost EV In the first half of this year, no details such as release date or price have been provided.

The Chinese electric vehicle market is becoming increasingly competitive with many domestic electric vehicle manufacturers Grow and take some Tesla’s market share. Tesla’s Chinese salt yes Declined almost 50% Started at the same time last year.

Tesla shares rose about 2% in listing trading on Friday. They will have to get about 9% from Thursday’s closing price to get a week’s higher After a 15% drop on Mondayotherwise the stock will fall Eight consecutive weeks.