Tesla unveils improved Model Y in China, targets rivals like Xiaomi

MG News | January 10, 2025 at 11:00 AM GMT+05:00

0:00

January 10, 2025 (MLN): Tesla launched a revamped version of the Model Y, its best-selling car, in China on Friday, hoping that upgraded features such as heated seats and a better acoustics system will help it regain market share taken by rivals such as Xiaomi.

The new Model Y is priced at 263,500 yuan ($35,900),5.4% more expensive than the previous version in China, Tesla's second-largest market, the U.S. automaker said on its Weibo social media account, according to Reuters.

Tesla first launched the Model Y in 2020 and it became the world's best-selling model in 2023, Reuters added.

The aging model, however, lost some sales momentum last year, hurt by competition from Chinese rivals in China while in other markets demand for electric vehicles has weakened, it further noted.

It plans to launch a six-seat variant of the Model Y later this year, sources have previously said.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	151,707.52 244.73M	-0.79% -1200.45
ALLSHR	90,950.95 421.06M	-0.91% -834.89
KSE30	45,918.57 92.97M	-0.83% -386.29
KMI30	220,125.22 87.98M	-0.85% -1889.21
KMIALLSHR	59,363.52 256.09M	-1.02% -613.27
BKTi	41,297.63 25.33M	-0.60% -248.70
OGTi	31,189.41 18.57M	-2.53% -809.48

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	66,160.00	69,315.00 65,710.00	-2610.00 -3.80%
BRENT CRUDE	114.28	114.28 105.09	6.27 5.81%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-10.30 -9.39%
ROTTERDAM COAL MONTHLY	119.75	121.40 119.75	-1.40 -1.16%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	100.83	101.23 92.08	6.35 6.72%
SUGAR #11 WORLD	15.75	15.93 15.66	-0.12 -0.76%