Tesla to Produce Cheaper Model Y in Shanghai, Eyes Mass Production in 2026

Tesla plans to produce a cheaper version of the Model Y in Shanghai, aiming for mass production by 2026. This initiative seeks to regain market share amidst price wars and competition from Chinese manufacturers. The new model, codenamed "E41", will be smaller and approximately 20% cheaper than the current Model Y, which starts at $36,351. Production will primarily serve the Chinese market, with potential expansion to Europe and North America. CEO Elon Musk announced the plan for more affordable models in early 2025 but did not specify details on cost reductions or specifications.

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