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Tesla has launched a new version of the Model Y in China, and it’s achieving an impressive new range rating – thanks to a new battery cell from South Korea’s LG.
The new variant, a five-seat, rear-wheel drive long-range model, has been released with an 821-km range based on China’s CLTC standard.
While the CLTC rating is known to be optimistic, 821 km (about 510 miles) is an impressive number and the longest range Tesla has offered in its Model Y lineup to date, which is going to help it be more competitive in the Chinese market.
This new extended range Model Y version is made possible by using the 78.4-kWh ternary lithium-ion battery pack from LG Energy Solution, the same pack found in the also recently launched 830-km range Model 3 variant.
The new long-range RWD Model Y starts at RMB 288,500, which translates to just over $40,500 USD.
The launch comes at a critical time for Tesla in China, which has seen its sales slump in recent months. The automaker recorded its lowest monthly sales in October since November 2022, falling out of the top 10 list for new energy vehicle (NEV) sales.
That’s despite a continued surge in electric vehicle sales in China. Tesla is not benefiting from it amid strong competition.
According to local Chinese media reports, the new 821-km Model Y is already gaining traction with some anecdotal reports of enthusiasm at Tesla stores.
The reports are partly supported by Tesla quickly extending delivery timelines from 2-4 weeks to 4-6 weeks just hours after launch.
Electrek’s Take
I think this is going to be suitable for a decent short-term bump in demand, but it’s still on the expensive side for the Chinese market.
For example, now the Model Y beats the Xpeng G6’s max range of 755 km, but the G6 with this range costs 234,900 RMB (approximately $32,900 USD), which is significantly cheaper.
Every 10,000 RMB tranche lower means a lot more demand in China.
Tesla needs to launch its new “standard” versions to start making a difference with demand long term in China.
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