The Tesla Model Y Long Range Dual Motor All Wheel Drive (AWD) has received a new price increase. While the new price increase was notably minor, it does suggest that the current demand for the all-electric crossover in the domestic Chinese market is healthy.
As noted by Tesla China in an announcement on Chinese social media, the price of the Model Y Long Range has been raised by RMB 2,000 yuan ($280). The vehicle’s new price can also be seen on the company’s official order page for the Model Y. With its recent price increase, the Model Y Long Range now starts at RMB 304,400 ($42,741).
Prior to its recent price adjustment, the Model Y Dual Motor AWD was listed in China with a price of RMB 302,400 ($42,460). This suggests that the recent price adjustment only represented a 0.66% price increase.
Tesla China has raised the price of the Model Y Long Range version by 2,000 yuan.
This is the fourth time in a month that Tesla China has raised prices on different models.
Chinese consumers generally see this as a move by Tesla to rush consumers into placing orders in response… pic.twitter.com/bVDsM2dNfD— Yan Chang (@cyfoxcat) November 21, 2023
The Model Y Long Range’s new price increase is the fourth price adjustment that Tesla China has implemented in the past month. While the electric vehicle maker only produces the Model 3 sedan and the Model Y crossover in Giga Shanghai, specific price hikes have been rolled out to specific trims of the two premium electric cars in the past weeks.
On October 27, the Tesla Model Y Performance received a RMB 14,000 ($1,965) price adjustment, pushing the vehicle’s starting price to RMB 363,900 ($51,095) before options. This price increase was followed by another round of adjustments on November 9, which was rolled out to the Model 3 Long Range and the Model Y Long Range. The two vehicles received a price increase of RMB 1,500 and RMB 2,500, respectively.
Finally, on November 14, the price of the Model 3 Rear Wheel Drive (RWD) and the Model Y Rear Wheel Drive (RWD) was raised by RMB 1,500 and RMB 2,500, respectively.
Unlike previous price increases, which are typically just rolled out on Tesla’s official order pages for its vehicles, the price adjustments that have been implemented as of late were practically announced beforehand. Some price adjustments were even communicated to local media outlets in advance, which industry watchers saw as a potential strategy to encourage customers to purchase vehicles as soon as possible.
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Energy
Tesla starts hiring efforts for Texas Megafactory
Tesla’s Brookshire site is expected to produce 10,000 Megapacks annually, equal to 40 gigawatt hours of energy storage.
Tesla has officially begun hiring for its new $200 million Megafactory in Brookshire, Texas, a manufacturing hub expected to employ 1,500 people by 2028. The facility, which will build Tesla’s grid-scale Megapack batteries, is part of the company’s growing energy storage footprint.
Tesla’s hiring efforts for the Texas Megafactory are hinted at by the job openings currently active on the company’s Careers website.
Tesla’s Texas Megafactory
Tesla’s Brookshire site is expected to produce 10,000 Megapacks annually, equal to 40 gigawatt hours of energy storage, similar to the Lathrop Megafactory in California. Tesla’s Careers website currently lists over 30 job openings for the site, from engineers, welders, and project managers. Each of the openings is listed for Brookshire, Texas.
The company has leased two buildings in Empire West Business Park, with over $194 million in combined property and equipment investment. Tesla’s agreement with Waller County includes a 60% property tax abatement, contingent on meeting employment benchmarks: 375 jobs by 2026, 750 by 2027, and 1,500 by 2028, as noted in a report from the Houston Business Journal. Tesla is required to employ at least 1,500 workers in the facility through the rest of the 10-year abatement period.
Tesla’s clean energy boom
City officials have stated that Tesla’s arrival marks a turning point for the Texas city, as it highlights a shift from logistics to advanced clean energy manufacturing. Ramiro Bautista from Brookshire’s economic development office, highlighted this in a comment to the Journal.
“(Tesla) has great-paying jobs. Not just that, but the advanced manufacturing (and) clean energy is coming to the area,” he said. “So it’s not just your normal logistics manufacturing. This is advanced manufacturing coming to this area, and this brings a different type of job and investment into the local economy.”
News
Tesla Giga Shanghai just built its 5 millionth battery pack
The achievement highlights Giga Shanghai’s role as the automaker’s highest volume manufacturing complex.
Tesla’s Shanghai Gigafactory has reached a major production milestone, with its five millionth battery pack rolling off the line this week.
The achievement highlights Giga Shanghai’s role as the automaker’s highest volume manufacturing complex and primary vehicle export hub.
Giga Shanghai’s new milestone
Tesla announced the milestone on X and Weibo, sharing images from the facility where the five millionth pack was completed. Images showed the Giga Shanghai team posing for a commemorative photo with the facility’s five millionth battery pack. Several of the company’s executives congratulated the Tesla China team for its recent milestone, including SVP Tom Zhu, who wrote “Power up, team!” in a post on X.
While Tesla designs and assembles its battery packs in China, the cells themselves are supplied by local partner CATL and South Korea’s LG Energy Solution, as noted in a CNEV Post report. Tesla China has stated that its pack safety standards exceed industry norms several times over, with longevity engineered to outlast vehicle lifespans.
Giga Shanghai’s growing role
Construction of Giga Shanghai began in early 2019, becoming China’s first wholly foreign-owned auto manufacturing facility. Giga Shanghai’s first phase was completed within the year, producing Model 3 sedans by the end of 2019. It now produces both Model 3 sedans and Model Y SUVs for domestic and export markets, with an annual capacity approaching one million vehicles.
Despite the record-setting battery milestone, Tesla China’s recent domestic results left a lot to be desired. As per the China Passenger Car Association, Tesla’s retail sales in October dropped 36% year over year to 26,006 units, the lowest since late 2022. Analysts attributed the decline to Giga Shanghai’s focus on exports last month, as well as the ramp of compelling rivals like the Xiaomi YU7.
News
Tesla confirms upcoming launch of FSD Supervised in South Korea
The announcement came through a post from Tesla Korea’s official account on X.
Tesla has confirmed that it will be releasing its Full Self-Driving (FSD) Supervised system in South Korea. The announcement came through a post from Tesla Korea’s official account on X, which featured a video showing the system navigating local roads in a Tesla Model S sedan.
FSD Supervised in South Korea
The teaser video posted by Tesla Korea showed a vehicle performing lane changes, navigating intersections, and even parking without driver input, all while the driver kept their hands off the steering wheel. The footage was filmed on domestic roads, suggesting that Tesla Korea has been initiating FSD test drives in the country for some time.
Tesla’s FSD software currently exists in two versions: supervised and unsupervised. The supervised version still requires driver attention, while the unsupervised variant, which is being used in the company’s Robotaxi service, allows full autonomy. Tesla has confirmed plans to expand supervised FSD to Europe, and China, as well as markets like Japan, sometime next year.
South Korea’s FSD likely for U.S.-made cars to start
In South Korea, Tesla’s popularity has surged despite FSD not yet being available in the country. This is largely due to the new Model Y, which was launched in April. Thanks to the vehicle’s reasonable price and features, the new Model Y has driven domestic sales up 92.8% year-over-year, securing Tesla’s place among the country’s top imported carmakers.
With FSD, Teslas become significantly more compelling vehicles. Analysts warn, however, that legal and regulatory hurdles could complicate FSD’s local introduction. Over 80% of Teslas sold in South Korea are manufactured in China, and those vehicles must comply with domestic safety standards, as noted in a Chosun report.
Industry experts suggest the first wave of FSD-enabled vehicles will likely be U.S.-made, as models built under the Korea-U.S. Free Trade Agreement automatically meet South Korean safety requirements.
“Since the supervised FSD is a technology that assists driving, its introduction in South Korea is technically feasible. However, potential conflicts with domestic road laws and safety standards are a concern,” one industry insider told local media. “US-made vehicles are not subject to South Korean safety standards due to the Korea-US FTA, making FSD implementation relatively easier, whereas the situation differs for Chinese-made vehicles.
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