Tesla China has revised the pricing of its Model Y lineup, increasing the cost of the Long Range variant while introducing attractive financing options for the entry-level Rear-Wheel Drive (RWD) model. This move reflects Tesla’s evolving strategy to balance demand and affordability in the Chinese market.
As of Tuesday, the price of the Tesla Model Y Long Range has risen by 10,000 yuan ($1,400 USD), bringing its new price to 313,000 yuan ($43,270 USD) from its previous 303,500 yuan ($41,950 USD) in January.
Equipped with a 78.4 kWh battery from LG Chem, the Long Range model offers an impressive 719 km range under China’s CLTC testing standards.
Additionally, its dual-motor all-wheel-drive system generates 331 kW of power, making it an appealing choice for consumers seeking both extended range and high performance.
Meanwhile, Tesla is maintaining the price of its entry-level Model Y Rear-Wheel Drive variant at 263,500 yuan ($36,430 USD). To boost its appeal, the company has introduced special financing plans for buyers purchasing this version between March 18th and April 30th.
Under this incentive, customers opting for a 79,900 yuan ($11,050 USD) down payment can secure up to three years of 0% interest financing. Alternatively, those choosing a lower down payment of 45,900 yuan ($6,350 USD) can access “low interest” financing at approximately 1.84% for loan terms ranging from one to five years.
The Model Y RWD comes with a 62.5 kWh battery from CATL, delivering a driving range of 593 km under LTC conditions, and is powered by a 220 kW single electric motor.
Tesla’s Model Y lineup in China currently consists of these two versions: the Long Range and the Rear-Wheel Drive models.
Additionally, Tesla is extending an 8,000 yuan ($1,110 USD) insurance subsidy for Model 3 buyers, making its sedan offering more attractive.
This latest pricing adjustment and financing strategy indicate Tesla’s efforts to optimize its market positioning in China, balancing premium and budget-friendly offerings to cater to a wide range of consumers.