At the delivery ceremony of China-made Tesla Model 3 on January 7, Tesla announced the official launch of the China-made Model Y project.
The ceremony, held on the afternoon of January 7 at the Tesla Shanghai Gigafactory in Lingang, Shanghai, marks the first delivery of Tesla's China-made Model 3 to the public in China.
Tesla's founder Elon Musk attended the ceremony. He said that in addition to Model 3 and Model Y, other models will be manufactured in China in the future.
Model Y is a 7-seater SUV with a standard range of 230 miles. The delivery time was previously expected in the spring of 2021.
Musk said Model Y will use more advanced manufacturing technologies. Because some consumers prefer SUVs, Model Y will give consumers better experience, he said.
Model Y is Tesla's fifth car model. According to the original plan, the Model Y will be trial-produced at the Shanghai plant in October 2020, and now Tesla has advanced this plan again.
Musk previously revealed on Twitter that some Model Y will be produced at the Tesla Shanghai super factory together with Model 3 models. The Shanghai plant produces the entry-level Model 3 and Model Y; other Model S and Model X and high-profile Model 3 and Model Y will still be produced by the American plant.
According to Tesla's official website, the latest estimated selling price of Model Y has been adjusted from 445,000 to 526,000 yuan to 444,000 to 535,000 yuan, an increase of 9,000 yuan.
Some analysts said that affordable models are expected to push Tesla's production and sales to the next level, and the mass production of Model 3 is expected to replicate the glory of the Apple iPhone 4 industry chain.
Musk has previously said that Model Y will be developed based on the Model 3 platform, which will significantly reduce Tesla's R & D investment expenditures. At the same time, model 3 and model Y can share 70% of the parts, and the production of Model 3 and Model Y in China will definitely bring a new round of supporting opportunities to Chinese parts suppliers.
Tianfeng Securities believes that the localization of door-level Model 3 and Model Y launches is expected to promote Tesla's sales growth. On the one hand, the original suppliers have potential for additional product categories and matching ratios.
On the other hand, Jiangsu, Zhejiang and Shanghai's high-quality global parts supply system also has new opportunities for selection due to cost-effectiveness and location advantages.
From the perspective of market expansion, supporting Tesla will greatly assist these component manufacturers to further develop mid-to-high-end customers and better share the dividends of the new energy automobile industry.
According to cnTechPost earlier, the price of Tesla's new SUV Model Y in China has been announced with its three versions priced from an estimated CNY 444,000-535,000.
The Model Y rear-wheel-drive long-endurance version is priced at 444,000 yuan, with a range of 540 kilometers (estimated by WLTP), a maximum speed of 209 km/h, and an acceleration of 0-100 km/h in 5.8 seconds.
The dual-motor all-wheel-drive long-endurance version is priced at 488,000 yuan, with a range of 505 km (estimated by WLTP), a maximum speed of 217 km/h, and an acceleration of 0-100 km/h in 5.1 seconds.
The dual-motor all-wheel-drive Performance high-performance version is RMB 535,000, with a range of 480 kilometers (estimated by WLTP), a maximum speed of 241 km/h, and an acceleration of 0-100 km/h in 3.7 seconds.
Tesla posted a live video on Weibo on Monday to show the preparation process for the delivery ceremony of the Model 3 sedans that Tesla will hold in Shanghai on January 7.