By Sherry Qin
Tesla will offer discounts on selected variations of its Model Y vehicles in China, only weeks after it slashed prices on a range of models as it faces heightened competition from local rivals such as BYD and uncertain electric-vehicle demand in the world’s second-largest economy.
Tesla China will offer a 8,000 yuan ($1,127) cash discount on some configurations of its Model Y vehicles, the EV maker said on its official Weibo account on Thursday. The most basic Model Y variation is listed at CNY258,900 on Tesla’s China website.
There are a limited number of discounted cars and only available while supplies last, Tesla said. It didn’t say which Model Y variations are eligible for the discount.
Tesla has been looking to make its vehicles more affordable in China amid a shrinking market share and growing competition from local rivals such as BYD, Li Auto, Nio, and XPeng. It has cut prices several times in recent months, including in early January.
The move comes after Tesla was dethroned by BYD as the world’s biggest EV maker, after it recorded fewer deliveries than its Chinese rival in the final quarter of 2023.
Write to Sherry Qin at sherry.qin@wsj.com
