Tesla Plans Six-Seat Model Y Production in China by Late 2025; Stock Rises 1.2%

Sep 3, 2024, 09:11 AM

Tesla plans to produce a six-seat variant of its Model Y electric vehicle in China starting in late 2025. The U.S. automaker aims to enhance the appeal of its best-selling yet aging Model Y by introducing this new configuration, which will include Full Self-Driving capabilities. Tesla has informed suppliers to prepare for a double-digit increase in Model Y output at its Shanghai plant. This move is part of Tesla's broader strategy to capture a larger share of the growing Chinese electric vehicle market. Following the announcement, Tesla's stock rose by 1.2% in premarket trading.