Tesla’s latest model, the Model Y, is making waves in the automotive world with its cheap price tag and efficient performance. Originally introduced in Canada last week, is equipped with lithium iron phosphate batterieshas a base price of just under 60,000 Canadian dollars, making it eligible for government subsidies. This marks a major shift in Tesla’s production strategy, as CEO Elon Musk previously stated that Tesla would not export cars from China.
The Gigafactory Shanghai has quickly become Tesla’s most productive plant, and the world’s largest electric vehicle factory. Tesla likes to refer to Shanghai as the hub of its production, and has an annual manufacturing capacity of 750,000 vehicles there. On the occasion of the company’s Q1 results, Tesla CEO Elon Musk announced that the Tesla plant in Shanghai has the “lowest cost structure” of all Tesla factories.
Tesla is hoping to capitalize on the cost-effectiveness of the Model Y and attract new customers to its brand. The car is expected to be popular among budget-minded consumers looking for an electric vehicle that is both affordable and reliable. The car is also expected to bring Tesla closer to its goal of creating an all-electric future.
With the Model Y now being imported from China, the car is expected to make a big impact on the automotive market. The cost-effectiveness of the car could help to make electric vehicles more accessible to a wider audience, and help Tesla reach its goal of becoming the world’s leading electric car manufacturer.