Tesla's Model unveiled exclusively in China - Musk discusses the prospects of the six-seater vehicle's future
In a recent development, Elon Musk, the CEO of Tesla, has revealed that the extended six-seater version of the Model Y, named Model Y L, will be exclusive to the Chinese market. This comes as electric vehicle adoption in China is significantly higher compared to the USA.
During a meeting with investors in October, Musk stated that building a regular Model Y without the Robotaxi feature would be "pointless". This suggests that the introduction of self-driving cars in America might affect the production of the Model Y L in the USA.
Tesla's focus on Robotaxi and ride-hailing services in the USA is evident, as Chinese electric vehicles are not available due to high tariffs. The company is also facing tough competition from local electric vehicle manufacturers like BYD, Xiaomi, and Xpeng in China.
Xiaomi, a smartphone giant, has entered the electric vehicle market and launched the YU7, an electric SUV priced below the Model Y. Electric vehicle startups Xpeng and Nio have also introduced competitors to the Model Y. Chinese companies have rapidly gained market share with a wave of affordable electric models equipped with high-tech features.
The Model Y L, priced at $47,200 (approximately €40,500) in China, boasts new features like a foldable rear seat and electric armrests. It was launched with nearly 300,000 pre-orders within an hour of its launch, showcasing strong demand for the vehicle.
However, the next new product Tesla is set to release in the United States is likely the refreshed Model Y Performance, with the reveal scheduled for August 29, 2025. This could indicate a shift in focus towards the domestic market, following the lacklustre performance of the last new product launched in the USA, the Cybertruck, which has been a sales flop since its debut in 2023.
Elon Musk has predicted that driverless vehicles will become the norm within the next decade. As Tesla continues to innovate and adapt to the evolving electric vehicle landscape, it remains to be seen how the Model Y L's success in China will influence the company's future plans for the USA.
Read also:
- Upcoming iPhone Model: What We Understand Thus Far
- Gambling establishments issue warnings about potential hip and knee injuries due to risky activities
- Classified Spacecraft Enigmas Project (CEP)
- Swiss Casino Association Publishes 2023 Annual Report: Expanded Membership and Growing Online Revenue Yield Favorable Outcomes
