Tesla has begun accepting pre-orders for the most affordable trim version of the Model Y, which benefits from local production and state incentives. Shipments will begin in August.
The battery SUV has 525 kilometers of range and comes in at 276,000 Yuan, or $42,600. As such, it is only about 10% more expensive than the basic Model 3 sedan made in China.
Furthermore, all buyers of all-electric cars priced under 300,000 Yuan are eligible to an additional tax benefit in China.
Tesla CEO Elon Musk believes the Model Y may eventually become the company’s most popular model.