Tesla raises Model Y Long Rang starting price by $280 in China

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has raised the starting price of the Model Y Long Rang in China by RMB 2,000 ($280), bringing the latest starting price to RMB 304,400.

Tesla has a factory in Shanghai that produces the Model 3 as well as the Model Y. The factory's current annual production capacity of more than 950,000 vehicles is its largest in the world, according to the company's third-quarter financial report released last month.

Scale deliveries of the locally produced Model 3 and Model Y in China begin in January 2020 and January 2021, respectively.

The Model 3 is currently offered in two versions in China -- the entry-level version with rear-wheel drive, and the Model 3 Long Range version with dual-motor all-wheel drive.

The Model Y is offered in three versions in China -- an entry-level rear-wheel drive version, a dual-motor all-wheel drive Model Y Long Range version, and a dual-motor all-wheel drive Model Y Performance version.

Starting prices for all models remain unchanged, except for the Model Y Long Range.

($1 = RMB 7.1693)