Tesla Launches Longer-Range Model 3 in China to Retain Market Share

Tesla has begun accepting orders for its upgraded Model 3, boasting a longer driving range than the standard version. This comes amidst fierce competition from domestic rivals like Li Auto and Xiaomi, putting pressure on Tesla’s market share in China’s rapidly growing EV market. The new variant offers a significant jump in driving range, with an estimated 830km compared to the standard model’s 634km. The price has been adjusted to $37,500, representing a 14% increase over the basic edition. This move is aimed at attracting affluent Chinese consumers who prioritize features like battery technology and advanced driving assistance systems.