Tesla Hikes Model Y Performance Price in China by about USD 1,550

Automotive Author: Contributor, Phate Zhang Editor: Luke Sheehan Sep 13, 2021 02:28 PM (GMT+8)

The company's CEO Elon Musk said that a roll out for an entry model was likely for 2023.

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Tesla announced on Weibo on Saturday that the starting price of the Model Y Performance in China has been raised by CNY 10,000 (USD 1,550) to CNY 387,900, with those who have previously reserved unaffected.

The Securities Times quoted a Tesla China public relations source as saying that the price increase was mainly due to fluctuations in manufacturing costs.

On January 1, Tesla announced the official launch of the China-made Model Y and the new Model 3. The Model Y Performance starts at CNY 369,900, down by CNY 165,100 from the previous price of CNY 535,000.

The Model Y Performance has not been delivered, and Tesla's website previously showed the version was expected to begin deliveries in the third quarter of 2021. After Tesla raised the price today, the website showed that deliveries are expected to begin in the fourth quarter.

In May, the price of the Model Y Performance was raised from CNY 369,900 to CNY 377,900, and in August, the model went from pre-sale "pending regulatory approval" status to on-sale status.

The China-made Model Y Standard Range and Long Range versions remain unchanged at CNY 276,000 and CNY 347,900 respectively.

Interestingly, a Chinese Tesla owner said on social media Friday that his Model Y received a push from Tesla about a software package to improve acceleration performance.

The update information shows that the owner can shorten the vehicle's 0-100 km/h acceleration time from 5 seconds to 4.4 seconds by paying CNY 14,100 (USD 2,190).

The owner did not specify which version of his Model Y is, but this should be the long-range version with dual-motor all-wheel drive, as Information on Tesla's website shows that only that version has a 0-100 km/h acceleration time of 5 seconds.

In comparison, the Model Y Performance has a 0-100 km/h acceleration time of 3.7 seconds.

This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.