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Tesla is rolling out two electric cars in China, the Model 3 Plus and the Model YL, in an effort to regain some power in the global automotive industry.<\/p>\n
Specifically, Tesla now appears to be competing against an increasingly competitive field of electric vehicle (EV) competitors in Asia, including companies such as BYD and Xiaomi.<\/p>\n
However, with Chinese rivals undercutting prices and rapidly expanding their production, Elon Musk and his American-based car company may find the road ahead steeper than ever.<\/p>\n
The new Model 3 Plus, Tesla\u2019s latest sedan, carries a higher-capacity LG-supplied battery and promises longer range than any current Model 3 sold in China, although official statistics have not yet been released to the public. Licensing details for the new vehicle configurations were first announced<\/a> by CarNewsChina. It seems that Musk hopes these new models and their modern amenities will be the breakthrough to regaining some market power in Asia.<\/p>\n The Model YL SUV, a larger version of the existing Model Y, features a true third row, six seats, and dual motors offering 456 horsepower. The new YL, according to a report from Elektek, was rolled out to compete<\/a> with other progressive, family-sized Chinese EVs, such as the NIO Onvo L90.<\/p>\n These new car configurations from Musk and company follow a somewhat lackluster response to Tesla\u2019s previously released \u201cJuniper\u201d (considered to be another Model Y refresh), and come after the company reported<\/a> a 14% global drop in vehicle deliveries last quarter, per TheVerge.<\/p>\n That\u2019s no small concern, especially in China, easily the world\u2019s largest EV market, where the battle is now as much about affordability as it is about innovation.<\/p>\n With the new Model YL expected to start at a price north of $50,000, Tesla\u2019s premium pricing could potentially be a liability in a market where, in communist China, $39,000 buys a locally made competitor with similar features.<\/p>\n Regardless, Musk seems confident about his car company\u2019s future.<\/p>\n On July 13, the Tesla founder posted<\/a> to X, simply saying, \u201cJust left the Tesla <\/span>design studio. Most epic demo ever by end of year. Ever.\u201d<\/p>\n<\/p><\/div>\n