Tesla will add a new Chinese model: positioning is lower than Model 3, is expected to sell for 160,000 yuan

As per the report, sources in relevant channels revealed that Tesla will increase the production of a third Chinese model in the Shanghai Super Factory (expected to be a derivative of the current Model 3 or Y).

The report pointed out that this new model of Tesla had been approved as early as September 2020, and product verification is expected to be completed in March this year.

Additionally, the positioning of the new model is lower than Model 3 (configuration and inquiry), and the starting price may be controlled at around 160,000 yuan ($24,751.71 US).

This new model may be positioned in a compact hatchback design. The body and chassis are basically the same as the current Model 3, but the guide cost will be controlled between RMB 150,000 and RMB 200,000. Produced in the factory, mass production and delivery to users can be realized as soon as 2022.

The local Model Y produced by Tesla’s Shanghai Super Factory has been officially launched on January 1, with a new Model 3 facelift. Tesla’s orders for the beginning of the year are full, and even on the 6th day after the official sale, the expected delivery date of the Model Y long-life version has been extended to the second quarter of 2021.

The current Tesla Model 3 standard battery life upgrade version starts at 249,900 yuan; the Model 3 high-performance version starts at 339,900 yuan. The Model Y long battery version is 339,900 yuan ($52,582.72 US), and the high-performance version is 369,900 yuan ($57,223.74 US), which has obvious advantages in the Chinese market.

Additionally, benefiting from the market value of Tesla’s flying spur, Tesla CEO Musk has surpassed Amazon CEO Bezos as the world’s richest man.

(Source)