Economy

Different Tesla Model Y designs raise questions

Different Tesla Model Y designs raise questions”

"The price cut makes Model 3 a better price performance", he said.

"We would like to have some room for adjustments as some other outstanding models are around the corner, such as the Model Y", said Li Bin, Nio founder and chairman.

Musk revealed that Tesla will make the electric SUV Model Y in China after the Model 3 sedan in a clear bid to gain a bigger share in the world's largest vehicle market.

Tesla reported earlier it delivered a total of 367,500 cars past year.

The Chinese plant, which was completed in record time as it sped through approvals and construction, represents a cornerstone of Musk's plans to make Tesla a truly global carmaker.

Preferential policies and lower supply costs pushed up Tesla's profit margin in China.

More news: Trae Young cancels $1 million in medical debt for Atlanta families

Yet there is even more big news, especially with regard to the Model Y and whether it is suitable for you and your family or job.

About 30 per cent of the parts now used by the Shanghai facility are sourced locally, and the company plans to increase that to 100 per cent by the end of 2020, said Song, the manufacturing director, on December 30.

Total electric vehicle sales fell nearly 45% in November from a year earlier to 95,000. Shenzhen-traded shares of Zhejiang Sanhua Intelligent Controls Co., one of the country's largest providers of heating, ventilation and air-conditioning components, have gained more than 70% since the middle of past year. Ningbo Huaxiang Electronic Co., a maker of rear-view mirrors, also jumped more than 60%, according to Bloomberg data. It also said the next Ebitda threshold - US$3 billion - is within reach.

"It's clear that Tesla is back to being a story stock and there's a lot of good news out there", the news agency quoted David Kudla, chief investment strategist at MainStay Capital Management, as saying.

The progress made by Tesla CEO Elon Musk has defied short-sellers and other traders expecting the automaker to be overtaken by long-established auto companies, including GM and Ford. The China-made Model 3 sedans are priced at 355800 yuan before subsidies.

Green cars have seen rapid growth in China in the past decade, with sales rising from fewer than 10,000 in 2009 to more than 1.26 million in 2018. BMW plans to start building the iX3 crossover in China next year and is working with a Chinese partner to electrify its Mini model. Volkswagen AG's Audi said in November that it plans to introduce nine new-energy vehicles in China during the next two years.



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