Tesla readies a six-seat version of the Model Y for China

[BEIJING] Tesla is preparing to launch a longer, six-seat version of its Model Y sport utility vehicle in China, where the carmaker has been losing ground to domestic manufacturers with fresher lineups.

The new variant of Tesla’s top-selling model will be about 15 centimetres longer than the existing Model Y, according to figures posted on the Ministry of Industry and Information Technology’s website. The filing lists LG New Energy as the battery supplier.

Tesla confirmed the upcoming release on the Chinese social media platform Weibo, sharing two images of the SUV along with the caption: “Model Y L, see you in the autumn!”

The carmaker’s shares rose 3.5 per cent on Wednesday (Jul 16) in New York trading.

While Tesla just snapped an eight-month streak of declining shipments from its Shanghai factory, the US automaker continued to lag behind industrywide growth in electric vehicle (EV) wholesales in June.

Domestic rivals led by BYD have rolled out diverse ranges of competitively priced EVs with advanced features, and smartphone giant Xiaomi has taken on Tesla’s products directly.

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Tesla did not offer further information about the new model, such as pricing. The base Model Y starts at 263,500 yuan (S$47,131) in China. BLOOMBERG