Tesla China has announced the latest pricing of Model Y’s latest prices as the volume production of the EV crossover begins in Gigafactory Shanghai. The Model Y Dual Motor AWD now starts at ¥ 339,900 (about $ 52,000) and the Model Y Performance now starts at ¥ 369,900 (about $ 56,600), a significant decrease in the initially announced price of the vehicle.
Prior to the recent update, Tesla China indicated the price of Model Y, produced by Gigafactory in Shanghai, at ¥ 488,000 (approximately $ 74,600) for the Dual Motor AWD variant and ¥ 535,000 (approximately $ 81,800) for the Performance version. . By comparison, the Model Y Dual Motor AWD starts at $ 49,990 and the Model Y Performance at $ 59,990 in the United States.
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Tesla China’s updated Model Y price. (Credit: Tesla) -
Tesla’s current price Y price in the United States. (Credit: Tesla)
Recently, Tesla China’s Vice President of External Affairs stated that Giga Shanghai has achieved its goal of locating the supply chain. During the earnings call for the second quarter of 2020, Elon Musk estimated that Giga Shanghai’s supply chain will reach approximately 80% by the end of 2020. The recent prices announced by Model Y of Tesla China may reflect the location of Gigafactory Shanghai’s supply chain.
Also interesting for Tesla China’s update is Giga Shanghai’s Model Y standard paint option. Unlike its American manufacturer, black is the standard paint color of the manufactured Model Y in China. This was Tesla’s standard color with the Model 3 before the company switched to the now standard Pearl White Multi-Coat available today on vehicles manufactured in Fremont.
With its updated price, the Made-in-China Model Y will be much more competitive against local competition like the NIO ES6 and EC6. Other carmakers that want to use the same premium segment as Tesla are likely to see the US electric car maker as well.
Although the recent price updates on the Model Y may seem drastic, EV advocates noted that the original announced price of the electric crossover would already be speculated to inflate, probably as a way to prevent the vehicle from selling the Made- in China Model 3. With Gigafactory Shanghai now ready for Model Y production, however, it appears that Tesla China is now ready for a full assault on the country’s leading electric crossover market.
Tesla China has also announced that it expects Model Y deliveries from customers to begin this month, as noted in a report by Reuters. It’s been about a year since the electric car manufacturer began delivering the Made-in-China Model 3.
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