From Torque News.

Tesla has a backup plan in China. Two days ago 36Kr learned from the industry department that in order to cope with fierce market competition, Tesla’s China team led the development of a new model. Thus, 36kr published an extensive report today about Tesla’s plan to launch a stripped-down version of the Model Y in China. This seems to be the cheaper model Elon has been referring to, which means Tesla doesn’t have a new model to launch after all.

This comment by Elon at the last Annual Shareholder Meeting likely refers to the stripped-down Model Y: "So obviously, we’ve got some new products that we’re working on under the covers, and I think these are going to be pretty special. Some of them, I think people maybe at first may think, "Oh, it’s not going to be that amazing," but just wait. It will be."

How is Tesla planning to respond to increasing competition in the Chinese electric vehicle market?

Sources said that the project code of the new car will no longer use English names, but will use letters and numbers.

The launch time of these new models will depend on the order performance of the new Model Y. If the new Model Y does not meet expectations, Tesla is expected to launch this "cheaper Model Y" in the second half of this year.

36Kr sought confirmation from Tesla regarding the above information, but no response was received as of press time.

#tesla

Also see:
Ask any Tesla Cybertruck Owner What They Think About Their Truck, and "Tens of Thousands Will Tell You the Same Thing"
https://www.torquenews.com/1084/tesla-cybertruck-owner-says-ask-any-cybertruck-owner-what-they-think-about-their-truck-and

Reference: 36Kr Exclusive, In response to China’s price war, Tesla has also planned a low-priced "Model Y" https://36kr.com/p/3202436263830017

This is Armen Hareyan from Torque News. Please follow us at https://twitter.com/torquenewsauto on Twitter and https://www.torquenews.com/ for daily automotive news. Also, follow us on Telegram at https://t.me/teslaev