Tesla plans to produce a more affordable version of its Model Y in Shanghai. The new model will be built using existing production lines and is set for mass production by 2026. This initiative aims to regain lost market share in China.

The Model 3 was once the most popular EV in China Xiaomi’s SU7 surpassed Model 3 sales, despite only being on sale for a year The Chinese company built 70,000 SU7 EVs in the first six months According to the most recent sales figures,

Tesla will make a lower-cost version of its best-selling Model Y in Shanghai, three people with knowledge of the matter said, aiming to regain ground lost during a price war in its second-largest market.