In a bid to regain market share in China, Tesla (NASDAQ:TSLA) is reportedly developing a lower-cost version of its best-selling Model Y in Shanghai. Citing people with knowledge of the matter, Reuters reported that the new model will be more compact and at least 20% cheaper to manufacture than the refreshed Model Y,

Tesla reportedly plans to launch a more affordable version of the Model Y in China, produced at its Shanghai Gigafactory, with mass production starting in 2026. This new model will be smaller and cheaper to manufacture,

Tesla will make a lower-cost version of its best-selling Model Y in Shanghai, three people with knowledge of the matter said, aiming to regain ground lost during a price war in its second-largest market.

Homologation involves certifying that a vehicle meets India’s roadworthiness and regulatory standards, including safety, emissions, and road standards, as outlined by the Central Motor Vehicle Rules

Since the launch of the new Model Y in China in January, there have been a lot of rumors flying around about Tesla having received a massive backlog of orders. We reported on rumors from China claiming that Tesla got over 50,