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Tesla Giga Shanghai to release 2024 Model Y refresh as competition heats up in China

(Credit: Tesla Asia/X)

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Tesla Giga Shanghai plans to release 2024 Model Y refresh as competition heats up in China.

People familiar with the matter told Bloomberg that Gigafactory Shanghai is already preparing to produce the 2024 refresh Model Y. Mass production on the new Model Y is expected to start by mid-2024. 

The new Model Y units will be produced in the new phase of Gigafactory Shanghai. Production in the second phase of Tesla China’s factory will be suspended during New Year’s for upgrades. More updates to the Model Y assembly line will be made after the holidays.

Giga Shanghai’s 2024 Model Y refresh is expected to have significant changes compared to the updated units Tesla released in October 2023. The new Model Y will have more noticeable changes to the exterior and interior. For example, Tesla is expected to launch a new wheel design with ambient lighting. 

Tesla’s new Model Y will compete with new electric car units in China next year. Tesla’s rivals in China, like BYD and Xpeng, plan to unveil several new vehicles across a few market segments in 2024. According to China’s Passenger Car Association, new energy vehicle sales increased by 40% in November to 841,000 units. China includes pure electric cars and hybrid vehicles. 

Tesla’s demand in China and the United States seems to be holding up steadily. The company rolled out a few minor price adjustments leading to Christmas, which many TSLA bulls believe is a good sign that Tesla is maintaining its demand. In October, Tesla slightly increased the price of the Model Y Long Range in the United States and raised the cost of the Model Y Performance in China. In November, Tesla also slightly increased the price of the Model Y Long Range in China. 

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The Model Y has dominated the car market since its release, sometimes even overtaking its older sibling, the Model 3. For instance, Tesla has been on the Top 10 Most Popular EV Models list in the United Kingdom for five years. The Model 3 was number 1 on the list until recently, when it was bumped down to number 2, losing only to the Model Y.

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Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Tesla all but confirms that affordable Model Y is coming Tuesday

It does appear that October 7 would be the date when the world sees Tesla’s actual idea of what an affordable vehicle would be like.

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Tesla has released a cryptic teaser of a product that would be announced on Tuesday, October 7, 2025. Based on the company’s hint, it does appear that the product would be the affordable Model Y that has been spotted doing road tests across the country over the past months.

Affordable Model Y sightings

Last week, news emerged that a number of key Tesla influencers visited Gigafactory Texas for a private event. These included veteran Tesla YouTubers, car reviewers, influencers on X, and even a teardown expert who provided the initial insights on how to improve the original Model 3 sedan. At the same time, an uncovered unit of the apparent affordable Model Y was posted online. The vehicle was reportedly sighted close to Giga Texas. 

The new Model Y variant had some notable changes from the standard Model Y. Its fascia seemed inspired by the Model 3 sedan instead of the Cybertruck, and its roof seemed blacked out. Overall, it looked like a simpler Model Y designed to be offered at an affordable price. 

The weekend teasers

Teasers about an upcoming product were posted by Tesla’s official account on social media platform X, though the electric vehicle maker made it a point to keep things very vague. Initially, a closeup video of what appeared to be an aero wheel was posted, though it was vague enough that some speculated that it could be Elon Musk’s long-announced HVAC system instead. 

On Sunday, another teaser video was posted featuring the headlights of a new car. This brought speculations that the new Roadster might finally be announced. Inasmuch as a new Roadster unveiling would be exciting, however, it was evident that the headlights in the new teaser were a match to the uncovered affordable Model Y unit that was spotted close to Giga Texas a few days ago. With this in mind, it does appear that October 7 would be the date when the world sees Tesla’s actual idea of what an affordable vehicle would be like.

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Tesla Model Y Performance has a killer feature beyond its speed

Prior to the Model Y Performance, the feature has only been offered in the Tesla Cybertruck.

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Credit: Tesla

The Tesla Model Y Performance has been launched in the United States, and as it turns out, it has a killer feature beyond its stellar speed and driving dynamics.

Apart from raw driving fun, the new Model Y Performance also has the capability to power appliances through its Vehicle to Load (V2L) and Vehicle to Home (V2H) bi-directional charging. 

Only the second Tesla

V2L and V2H systems have long been requested by electric vehicle owners. Prior to the Model Y Performance, the feature has only been offered in the Tesla Cybertruck, one of the company’s most expensive vehicles. With customers ordering the new Model Y Performance at the end of the third quarter, however, some noticed that their vehicles were listed with V2L and V2H systems. 

These features, or at least V2L specifically, was confirmed by the official Tesla account on social media platform X. In a response to a Tesla shareholder who highlighted the much-requested feature, the official Tesla X account noted that V2L is possible with a Tesla Outlet Adapter. “New Model Y Performance offers Vehicle to Load (120V 20A AC) with Tesla Outlet Adapter,” Tesla wrote in its post.

Affordable accessory

To be fair, Tesla’s official X account only referenced the new Model Y Performance’s V2L system. Details of the newly launched variant of the best-selling all-electric crossover’s V2H function are yet to be specified. However, it is difficult not to be excited about the new Model Y Performance’s V2L system, as the Tesla Power Adapter is available on the Tesla Shop for just $80. 

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The new Model Y Performance’s V2L and V2H systems bode well for the features’ rollout to Tesla’s other vehicles. If such a function has made it to the top-tier Model Y, after all, it might only be a matter of time before similar features are introduced to the company’s other vehicles, such as the Model 3 sedan and the Model S and X. 

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Tesla to offer financing options for new Model Y Performance buyers

The new Model Y Performance introduces a number of upgrades over its predecessor.

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Credit: Tesla

Tesla officially launched the refreshed Model Y Performance in the United States, offering a sharper 0–60 mph sprint of 3.3 seconds, improved range of 306 miles, and a redesigned exterior. Priced at $57,490 before options, the high-performance all-electric crossover qualifies for the $7,500 federal EV tax credit until midnight on September 30.

And as per a recent comment from a Tesla VP, customers who place an order for the vehicle before the end of Q3 could have the option to finance the car later on.

Model Y Performance financing

Raj Jegannathan, Tesla VP of IT/AI-Infra, Apps, Infosec, and Vehicle Service Operations, shared the update in a post on social media platform X. As per the Tesla executive, “customers placing an order now will be given an option to finance when it’s closer for delivery.” This provides another incentive for customers to place an order for a Model Y Performance now. 

The Model Y Performance, already launched in Europe earlier this month, is expected to boost Tesla’s Q4 delivery figures. It also completes the full lineup of the revamped all-electric crossover, which, until now, has only been offered in two variants in the United States. 

Model Y Performance upgrades

The new Model Y Performance introduces a number of upgrades over its predecessor. Key updates include redesigned front and rear fascias, a new carbon fiber spoiler, and 21-inch Arachnid wheels with staggered fitment to boost grip and stability. Adaptive damping suspension and new drive modes give drivers more control at higher speeds, while updated battery cells deliver greater charge capacity.

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Interior refinements show a notable focus on comfort and technology, with its acoustic glass for a quieter ride, heated and ventilated front sport seats, heated rear seats with recline, and extended thigh cushions. A 16-inch high-resolution touchscreen has also been equipped in the vehicle.

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