The Model Y starts at 339,900 yuan ($52,400) for the “long range” version, and 369,900 yuan ($57,000) for the “performance” version.
Going big in China
In 2019, the company beat its own deadline to start making cars in China, kicking off trial production only 10 months after it broke ground on the plant. That boosted confidence that the company had the ability to hit delivery targets as it grew.
The company was also the first foreign automaker to be allowed to open a factory in the country without a Chinese partner, putting pressure on local players.
Meanwhile, the Chinese auto market is predicted to become even more crucial in the coming years. “By 2022, we believe [more than 40%] of Tesla’s overall delivery sales could come from China, as this remains the main growth region going forward, followed by Europe, then the US,” Wedbush analysts wrote in a note last week.
— Serenitie Wang contributed to this report.