Tesla plans to launch a seven-seater version of the Model Y in China and Europe in October, with production of the model already underway at Shanghai Giga, according to local media.
(Tesla Model Y displayed at the Shanghai New Energy Auto Show in June 2024. Image courtesy of CnEVPost)
Tesla (NASDAQ: TSLA) plans to bring a China-made seven-seater version of its Model Y to Chinese and European markets in October, local media outlet National Business Daily reported today, citing anonymous sources.
Production of the model has reportedly already begun at Tesla's Shanghai Gigafactory.
National Business Daily said it has reached out to Tesla's China team for clarification but has not yet heard back.
An hour after the National Business Daily report was published, the Shanghai Securities News cited a Tesla source as saying that reports that the Shanghai Gigafactory was already producing a seven-seater version of the Model Y were false. The person did not comment on any other parts of the National Business Daily report.
Tesla introduced the Model Y in March 2019, showcasing its seven-seater flexibility. It wasn't until 2021 that Tesla began offering an additional seven-seater option in the U.S. market.
Currently, in the U.S., only the four-wheel-drive, dual-motor Model Y Long Range supports the seven-seat option, for which consumers have to pay an extra $2,000.
(The third row of the seven-seater Model Y as seen on Tesla's US website.)
Last September, it was reported that Tesla was planning to launch an updated version of the Model Y in the first half of 2024, with sales set to begin by the end of the year, National Business Daily reported today.
According to National Business Daily, reports at the time said the revised seven-seater Model Y would weigh 45kg more with the addition of a third row of seats, increasing the maximum passenger weight limit by another 70kg.
According to National Business Daily, the seven-seater version of the Model Y, which is currently being produced in China, has completed the necessary homologation process in Europe.
The report, citing anonymous industry sources, said the emerging rumors of a seven-seater Model Y were linked to Tesla's need to improve its performance.
Tesla's core automotive business reported sales of $19.9 billion in the second quarter, down 7 percent from the same period a year ago, according to the report.
Meanwhile, Tesla is lagging other brands in some markets. For example, BMW outsold Tesla in Europe for the first time in July, erasing the lead Tesla had held since the Model Y hit the market in 2020, the report said.
Tesla has its largest factory in the world in Shanghai. Shanghai Giga began delivering Model 3s to local consumers in January 2020 and Model Ys in January 2021.
Both the Model 3 and Model Y currently on sale in China are five-seater versions.
The Model Y is popular in China and accounts for the majority of Tesla's sales there as consumers prefer more interior space.
According to the rankings released by Cui Dongshu, secretary-general of the China Passenger Car Association on August 12, wholesale sales of Model Y in China from January to July 2024 were 298,384 units, the highest among China's battery electric vehicle (BEV) models.
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