Tesla releases a cheaper Model Y in its battleground China market

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MarketWatch 08 July, 2021 - 06:11am 24 views

Tesla’s original Model Y for its Chinese market was approved for sale in late 2020, with the lowest price at ¥347,900 ($53,700).

The new version will allow buyers to take advantage of China government subsidies on electric-vehicle purchases, which only apply to those priced under ¥300,000. Plans to scrap those subsidies were shelved as the pandemic hit and the government sought to stimulate sales of electric cars.

Shares of Tesla have lost around 9% so far this year, against a 14% gain for the Nasdaq Composite and near 15% rise for the S&P 500. On Thursday, shares were down over 2% in premarket trade, against the backdrop of broader global market weakness.

Ahead of the July 4 holiday, Tesla said it produced 206,421 vehicles and delivered 201,250 in the second quarter, roughly in line with broader analyst consensus and a record for the company. In April, it reported blowout sales, and cited a strong performance of the China Model Y.

Read: Tesla’s sales show company is weathering chips shortage better than other auto makers

Tesla is scheduled to announced its second-quarter earnings on August 4.

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Read full article at MarketWatch

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Tesla Model Y Standard Range lives on in China -- and it's priced to kill

Teslarati 08 July, 2021 - 12:28pm

Tesla appears to be making a play for China’s mainstream crossover market, with the company launching the Model Y Standard Range at a price of RMB291,840 before incentives. With incentives, the Made-in-China Model Y SR would cost RMB276,000 (about $42,600), making it attainable for a large number of consumers. 

The Model Y Standard Range in China is listed with an NEDC range of 525 km (326 miles), though this is a very optimistic estimate. While the real-world range of the single-motor RWD Model Y SR in China remains to be seen, it should be noted that the vehicle, when it was briefly offered in the United States in Q1 2021, was listed with an EPA range of 244 miles per charge. 

BREAKING: Tesla China officially launched the MIC Model Y Standard Range RWD, with a starting price of ¥276,000, Chinese people definitely prefer Model Y, the price is really attractive, Tesla going to sell like hot cakes in China 🇨🇳#Tesla #TeslaChina #MIC #ModelY #特斯拉 $TSLA https://t.co/ialhkwX1Mm pic.twitter.com/BbUkodMbVs

Tesla advocates from China have noted that the Model Y Standard Range has been received very well by the country’s netizens. Prior to the Model Y SR’s introduction into the Chinese market, the most affordable variant of the all-electric crossover was the Long Range Dual Motor variant, which starts at RMB 347,900 (about $53,700) before options.

Crossovers are quite popular in China and considering that the Model Y offers a pretty good balance between its price, features, and range, there is a pretty good chance that the vehicle would be a good fit for numerous car buyers. This is already happening in the United States, with the Model Y now outselling its sibling, the widely successful Model 3 sedan. 

At RMB291,840 before incentives, the Tesla Model Y Standard Range qualifies for a RMB15,840 purchase subsidy. This still makes the vehicle a bit more expensive than rivals like the Volkswagen ID.4 X, which costs between RMB199,900 to RMB272,900, but consumers would likely find the Model Y’s premium worth it. The vehicle, after all, includes several notable standard features like basic Autopilot and Sentry Mode, and it has access to Tesla’s growing Supercharger Network in China. The vehicle even includes a dedicated Bioweapon Defense Mode like the more expensive Model S and Model X.

Tesla is already performing well in China despite its limited and relatively high-priced Model Y lineup. With an even more affordable starting price, the Model Y would likely become even more successful in the country, perhaps even challenging the sub-$5,000, hyper-affordable Wuling Hongguang Mini EV for the title of China’s best-selling electric car. Tesla CEO Elon Musk definitely seems to believe in the Model Y’s potential, noting in the past that the vehicle could become the world’s best-selling car.  

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Tesla launches cheaper RWD Model Y in China

Electrek 08 July, 2021 - 09:29am

Tesla has launched the Model Y RWD Standard Range, a cheaper version of the electric SUV, in China.

It looks like the version of the Model Y is officially back, albeit not in the US.

Earlier this year, Tesla launched a new Model Y Standard Range RWD with 244 miles (393 km) of range.

The launch was surprising considering CEO Elon Musk said that Tesla won’t produce the version of the Model Y because he said that the range would be “unacceptably low” at less than 250 miles (402 km).

Tesla released the version of the vehicle with an EPA estimated range of 244 miles (393 km) and a starting price of $42,000.

A few weeks after the launch, the automaker surprised again by reducing the price of the new base version of the Model Y by $2,000 just a month after launching it.

A few days after that, Tesla ended up removing the new cheaper version from its Model Y configurator – creating even more confusion.

Musk ended up saying that Tesla is still offering the vehicle as an “off the menu” option, which means that buyers need to know about it and order it in person or by telephone.

According to the CEO, the reason for making it an “off the menu” option is because he believes “the range, in many drive conditions, yet meets the Tesla standard of excellence.”

It’s not the first time that the automaker has done something like that – it also delivered on its promise of making a $35,000 Model 3 by making it an off-the-menu item.

The fate of the Model Y Standard Range as off-the-menu item is uncertain since Tesla ended up stopping orders of the Model 3 Standard Range after the launch of the 2021 version.

However, earlier this week, we reported on Tesla bringing back the vehicle in Hong Kong. We thought it might be because the range is not as important in this physically smaller market, but now Tesla is also bringing it to mainland China.

Tesla has now updated the Model Y configurator in China to include the new Standard Range Model Y:

The Model Y Standard Range starts at ¥276,000 or $42,500 USD, which is about the equivalent of what it was when it was listed in the US.

The reason Tesla is able to achieve this price is due to a ¥15,840 EV incentive that can be applied on the ¥291,840 MSRP because the vehicle starts under ¥300,000 – unlike other Model Y trims in China.

It is listed with a range of 525 km (326 miles), but that’s based on the GB Driving Cycle, which is a lot less representative of real-world range than the EPA cycle.

Tesla is talking about deliveries of the new version starting next month in August.

In China, Model 3 standard range vehicles are produced with a LFP battery cell. It’s not clear if this is also going to be the case for the Model Y.

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Tesla Model Y is an all-electric compact SUV built on Tesla's third-generation vehicle platform.

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Tesla launches cheaper RWD Model Y in China

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China: Tesla Doubled MIC Sales In June 2021

InsideEVs 08 July, 2021 - 07:25am

The total volume (sales and export) - according to the China Passenger Car Association (CPCA)'s data (via Reuters and Moneyball's reports) - stands at 33,155 Made-in-China (MIC) Model 3/Model Y, which appears to be the third-highest monthly result ever! The year-over-year growth stands at over 122%!

The past four months were actually the best four months for Tesla Giga Shanghai sales:

It's noteworthy that no other manufacturer managed to export so many electric cars (SAIC noted 2,300, BYD 215 and JAC 127).

In the past three months, Tesla Giga Shanghai exported over 30,000 MIC Tesla Model 3. We guess that most of them were sent to Europe (Standard Range Plus version) and contributed to the record overall result in the second quarter.

The MIC Tesla Model 3 sales in China improved by 10% year-over-year to 16,515, while additional 5,017 units were exported for a total of 21,532.

The MIC Tesla Model Y continues its ramp-up and sales in China, but in June the volume was a little bit lower than in May - 11,623.

It's probably a temporary decrease, especially since a more affordable, entry-level version soon will enter the market in China (more on that in a separate post soon).

Source: Reuters

Tesla Debuts Lower-Priced Model Y in China as Sales Slip

TheStreet 08 July, 2021 - 05:43am

Tesla revealed a standard-range version of its Model Y crossover that carries fewer standard options and costs roughly 20% less than the high-end model. The price starts from 276,000 yuan ($42,600) after government subsidies.

The original Model Y can run for 369 miles on a single charge. The latest version, which is available in Hong Kong but hasn’t been sold in China before, can run for 329 miles, and because it’s priced under 300,000 yuan is eligible for a different EV subsidy.

Excluding those destined for other countries, the EV maker sold 28,138 China-made cars in June. In May, Tesla sold 33,463 China-made cars.

The Chinese government last month ordered that almost all the cars Tesla has sold in China - more than 285,000 of them - be recalled to address a software glitch where the autopilot system can reportedly be activated automatically.

Panasonic's new CEO on Thursday said the Japanese company's battery supply relationship with Tesla remains strong, even after it sold all its shares in the U.S. electric carmaker.

"The sale has not hurt the relationship with Tesla," Yuki Kusumi said at a press roundtable, when asked whether the sale indicated that their partnership was weakening.

At last check, shares of Tesla were down 1.93% at $631.79.

Tesla sold 33,155 China-made vehicles in June -CPCA

Reuters 08 July, 2021 - 03:11am

By

CPCA also said China sold 1.6 million passenger cars in June, down 5.3% from a year earlier. (Reporting by Yilei Sun and Tony Munroe Editing by Mark Potter)

Our Standards: The Thomson Reuters Trust Principles.

Charting How Average Temperature Affects The Range Of A Tesla Model 3

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Ever wonder which cities are best for getting the most range from an EV? Now we know.

Every day, the internet brings a slew of new information to my email inbox. Most of it gets deleted, but some emails have information I think readers would like to know about. That’s what happened this morning when I opened an email telling me about a new study that takes a look at how the average range of a Tesla Model 3 is affected by ambient temperature.

The top line is that cars driven in cities with higher average temperatures tend to go further on a single charge than cars driven in colder cities. The bottom line is that battery efficiency is directly affected by temperature. None of this should come as any surprise to CleanTechnica readers. My Nissan LEAF had much less range in the winter in Rhode Island than it does now in Florida, for example. But for those who may be considering an electric car for the first time, it’s good information to know.

The data was assembled by CarInsurance.ae. Their methodology is as follows: “To decide which cities to study we took the two most populated cities from each of the OECD member nations. We then looked at the average annual temperatures for each of these cities according to Climate-Data.org. Then, using Geotab’s Temperature Tool for EV Range, we were able to determine how far a Tesla Model 3 would be able to travel at the average temperature for each city.” Both the overall average range as well as that of the the top 10% best performing Model 3s is displayed in the accompanying charts.

Credit: CarInsurance.ae

Credit: CarInsurance.ae

Don’t like tables? Here is the same information presented visually for the 5 hottest and the 5 coldest cities in the survey.

Credit: CarInsurance.ae

Why is any of this important? First, because the difference in range of a Model 3 between the hottest cities and the coldest is a statistically significant 76 kilometers. Second, there is a lot of misinformation about electric cars available on the internet, much of it cheerfully provided by oil and gas companies who know a good lie is often more powerful than the truth.

We here at CleanTechnica are all advocates for electric transportation and we need to be certain we have accurate information to share with the people we encounter in our daily lives. Just yesterday, my wife and I had friends over for brunch and the subject of electric cars came up. Most assumed they would need to drive to a Level 3 charger near the highway to charge an electric car if they bought one and wait a few hours for the charging to be completed.

When I shared the information that the vast majority of EV charging takes place at home or at work, they were surprised. When I said EV charging was like a person coming into the garage each night to top off the gas tank of a conventional car so you never had to visit a gas station again, they were intrigued. In the space of 5 minutes, a mildly hostile attitude toward electric cars was changed into a positive feeling. They left thinking maybe this whole electric car thing was something they might want to look into.

Information is power. If we are to be true EVangelists, we need to have accurate information available at our fingertips to offset the FUD spread by fossil fuel shills. So now, when someone talks to you about range, you will have some current information available to counteract the negative impressions of those who think electric cars are not for them. Go forth and spread the word!

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Why Tesla Stock Crashed and Burned Again Today | The Motley Fool

The Motley Fool 07 July, 2021 - 11:33am

Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.

Shares of Tesla (NASDAQ:TSLA) stock slipped 2.5% in morning trading on the NASDAQ Wednesday, apparently hurt by a pair of bad news items -- and a Barron's report -- just the day before.

As Barron's reports, "safety appears to be the main reason" Tesla stock is struggling this week, as investors worry over news that one Tesla investor's new Model S Plaid electric car burst into flames last week -- while a separate family has launched a wrongful death suit against the company, blaming the performance of its "Autopilot" driver-assistance software.  

Image source: Tesla.

Some details are in order. Regarding the Plaid fire, The New York Post reported late last week that "a brand-new Tesla Model S Plaid ... burst into flames in Pennsylvania" Tuesday in "a harrowing unexplained inferno." That's bad PR in and of itself, but what may make it worse is that the EV in question was owned by Susquehanna analyst Bart Smith.  

While it's not yet certain, this incident has the potential to turn "a longtime fan of the brand" into an enemy of Tesla -- which might not be great news for the stock price.

Separately, The New York Times says a family in California is accusing Tesla of "partial" responsibility in the death of a 15-year-old child who was killed when a Tesla, possibly operating on Autopilot, collided with the family's pickup truck.  

All that being said, some context may also be in order. Because it's a high-profile company, bad news about Tesla tends to gravitate to the top of news headlines. But according to data from Tesla -- which admittedly has a vested interest in setting the record straight on this front -- the first quarter of 2021 saw an average of:

Long story short and headlines notwithstanding, the data sure does seem to suggest that Teslas are anywhere from twice to nine times safer than any other car on the road -- and over the long term, that data has to be good news for the stock price.

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