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Tesla Aims to Produce Low-Cost Model Y at Shanghai Factory w/ Mass Production Expected Next Yr: Report
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Tesla (TSLA.US) plans to produce a low-cost version of the Model Y at its Shanghai factory and aims to start mass production next year, Chinese media reported. According to sources, this model, codenamed "E41", will have a more compact body size compared to the current version, and its production costs are expected to decrease by over 20%. Its price in the Chinese market may start at less than RMB263,500. It is understood that the new Model Y will be manufactured using the existing production line and will be produced in Europe and North America in addition to the Chinese market in the future. This move is considered an important step by Tesla to address the escalating competition in the Chinese market. AAStocks Financial News |
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