Tesla to Produce Lower-Cost Model Y in Shanghai to Stay Competitive

Tesla plans to manufacture a more affordable version of its best-selling Model Y at its Shanghai factory, according to sources familiar with the matter. The move is aimed at regaining market share in China, Tesla’s second-largest market, amid an intense price war with domestic EV rivals. By producing a lower-cost variant, Tesla hopes to attract price-sensitive buyers and strengthen its position in the world’s largest electric vehicle market.