A regulatory filing image of a new Model Y variant from Tesla in China.
- The new Model Y variant tops out at 250 km/h, with performance specs exceeding all versions currently on sale.
- Model Y is Tesla’s dominant model in China, accounting for 73.04% of its local deliveries in June.
Tesla (NASDAQ: TSLA) has filed a new Model Y variant in China that, based on its performance parameters, is expected to be the Model Y Performance version.
The new vehicle appeared in the latest batch of new-vehicle filings released Friday by China’s Ministry of Industry and Information Technology (MIIT), with a public disclosure period running from July 11 to July 17. Vehicles that complete this disclosure process typically go on sale within a few months.
According to the filing, the new vehicle is produced at Tesla’s Shanghai plant and has a top speed of 250 km/h, significantly higher than the 201 km/h of the four Model Y variants currently on sale.
For its powertrain, the vehicle uses dual-motor all-wheel drive, with the front and rear motors rated at 176 kW and 291 kW, respectively.
It is also equipped with a ternary lithium-ion battery pack, with the battery cells produced by LG Energy Solution’s subsidiary in China.
The new vehicle measures 4,796 mm long, 1,920 mm wide and 1,611 mm tall, with a wheelbase of 2,890 mm and a curb weight of 2,027 kg.
The vehicle is fitted with 21-inch wheels, with front and rear tire specifications of 255/35R21 and 275/35R21, respectively, also hinting at its performance positioning.
Tesla currently sells 4 versions of the Model Y in China, including the rear-wheel-drive base version, the Long Range rear-wheel-drive version, the Long Range all-wheel-drive version, and the 6-seat Model Y L.
Among them, the rear-wheel-drive version starts at 263,500 yuan ($38,870), while the Model Y L is priced at 339,000 yuan.
If the Performance version goes on sale, its pricing is expected to be higher than the Model Y L, making it the flagship of the lineup.
The filing of the new variant comes as Tesla’s deliveries in China remain under pressure, and expanding the Model Y lineup could help the company boost local demand.
The Model Y is Tesla’s dominant model in China. In June, the model delivered 38,654 units in China, accounting for 73.04% of Tesla’s China deliveries that month, according to CnEVPost’s calculations based on data from the China Passenger Car Association (CPCA).
In the first half of this year, the Model Y delivered a cumulative 172,513 units in China, up a slight 0.60% year-on-year. By comparison, the Model 3 delivered 66,442 units in China over the same period, down 27.72% year-on-year.
Still, Tesla’s overall performance in China remains weak. In the second quarter, its China deliveries fell 2.05% year-on-year, the fifth consecutive quarterly decline, accounting for just 26.28% of its global deliveries, the first time the figure has dropped below 30% since the fourth quarter of 2020.
China’s sluggish macroeconomy and intensifying local competition provide important context.
In June, Leapmotor (HKEX: 9863) overtook Tesla China with wholesale sales of 93,376 units, while industry leader BYD (HKEX: 1211) held the top spot with wholesale sales of 397,292 passenger new energy vehicles (NEVs).
Nio Inc (NYSE: NIO) and Xpeng (NYSE: XPEV) also both set new monthly delivery highs for the year so far in June.
Tesla delivered 52,920 vehicles in China in June, of which Model Y accounted for 38,654 units, or 73.04%.
($1 = 6.7793 yuan)
