Tesla Model 3

Tesla is in the final stages of producing display vehicles that will be shipped to Tesla showrooms later in August, with mass production expected to begin in September, according to Bloomberg.

Tesla's revamped Model 3 is expected to go on sale in China within half a month, with some stores already accepting reservations from consumers for the new model, according to local media.

Prototypes of the revamped Model 3 are currently being tested on the road at Tesla's Shanghai factory over weekends, with the production line doing further refinement work, according to local media.

Tesla sold 93,680 China-made vehicles in June, including exports, the second-highest number on record after November 2022's 100,291 vehicles.

Tesla's revamped China-made Model 3 will use CATL's new M3P lithium iron phosphate battery, with the base model battery pack capacity upgraded from 60 kWh to 66 kWh, according to 36kr.

From June 16 to June 30, Chinese consumers can receive an RMB 8,000 insurance subsidy if they purchase a rear-wheel drive version of the Model 3 that has already been produced.

From January to May, the Model Y sold 152,461 units at retail in China, up 87.03 percent year-on-year, and was also the best-selling SUV in China during the period.

The revamped Model 3 is slightly longer and sportier than earlier versions and has a sleeker interior design, according to Bloomberg.

From January to April, the Model Y sold 121,407 units, making it the second-best-selling new energy SUV in China during this period.

Tesla recently lowered the prices of its Model 3 sedan and Model Y crossover in several markets around the world, raising concerns about whether it will do the same in the Chinese mainland.