Tesla, the renowned American electric vehicle (EV) manufacturer, has recently introduced an upgraded version of its popular “Model 3” sedan in several key markets, including China and Europe. This move is expected to intensify competition in the EV sector, compelling rival manufacturers to announce their own enhanced EV models in the near future.
The launch of the new “Model 3” in China, the world’s largest automotive market, comes with a twist – it carries a price tag that is 12% higher than the previous version. This marks a departure from Tesla’s recent strategy of steadily reducing the prices of its vehicles, a tactic that had sparked a price war with its Chinese competitors.
The latest iteration of the “Model 3” represents Tesla’s first cosmetic update since the successful debut of the Model Y in 2020, which quickly became the company’s best-selling model. In addition to the enhanced “Model 3,” Tesla is gearing up to commence production of the highly anticipated “Cybertruck” within the current year.
Production of the upgraded “Model 3” will kick off at Tesla’s Shanghai factory, a testament to the company’s growing commitment to the Chinese market. Subsequently, the vehicle will also be manufactured at Tesla’s facility in Fremont, California.
According to information available on Tesla’s official website, the new “Model 3” variants available in China boast an extended driving range. The standard model is touted to offer an impressive 606 kilometers (377 miles) of range, based on Chinese testing standards, representing a notable 9% improvement compared to the base model available in China.
Tesla has already begun accepting orders for the upgraded “Model 3” and is slated to commence deliveries in China during the fourth quarter of 2023. Customers in Australia can anticipate deliveries starting in January of the following year.
Despite these exciting developments, it’s important to note that Tesla’s sales figures in China experienced a dip in July, as reported by the China Passenger Car Association (CPCA). The data revealed that Tesla sold 64,285 Chinese-made electric vehicles during that month, indicating a 31% decline compared to June.
Tesla’s latest move to enhance the “Model 3” not only underscores the company’s commitment to innovation and customer satisfaction but also signifies the intensifying competition within the global EV market. As EV manufacturers continue to push the boundaries of technology and range, consumers can look forward to a wider array of choices and more advanced offerings in the electric vehicle segment.