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Tesla has unveiled plans to manufacture a more affordable variant of its Model Y, internally codenamed 'E41', at its Shanghai factory. With mass production slated for 2026, this model will leverage existing production lines to achieve a more compact design and a significant cost reduction of over 20%. The objective is to recapture market share in China, which has been impacted by intense price competition. Currently, the base price of the Model Y in China stands at RMB 263,500, whereas the forthcoming affordable version is anticipated to retail for approximately RMB 200,000. Initially targeting the Chinese market, Tesla also intends to commence production in Europe and North America, although specific timelines for these expansions have yet to be announced.
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