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Tesla launches cheaper Model Y in China

July 09, 2021 / 9:07 AM
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Sharjah24 – Reuters: U.S. electric vehicle maker Tesla Inc on Thursday introduced a cheaper version of the Model Y in China, where it faces increased scrutiny from both regulators and the public and growing competition from local rivals.
Tesla's sales of China-made vehicles slipped in June from the previous month, the China Passenger Car Association (CPCA) said on Thursday.

The company, which makes Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 33,155 China-made vehicles, including those for export, compared with 33,463 in May.

Domestic sales in China improved, however, with Tesla selling 28,138 China-made cars in June, up from 21,936 the previous month.

Tesla shares fell 1.2% on Thursday and were set to decline for a third consecutive session.
July 09, 2021 / 9:07 AM

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