Tesla Reportedly Intends To Launch A Longer Range Model Y Variant In China

Tesla (TSLA) shares were in the spotlight on Thursday after a report indicated that the EV giant has registered plans for a longer-range variant of its Model Y in China.

According to a Reuters report on Thursday, citing filing information from a Chinese ministry website, the new variant is named Model Y+.

TSLA shares traded 2% lower at the time of writing. On Stocktwits, retail sentiment around TSLA stock stayed within the ‘bullish’ territory over the past 24 hours, while message volume remained at ‘high’ levels.

Tesla is currently seeking to mitigate criticism for its aging lineup by launching additional or refreshed variants of its existing vehicle models.

Tesla launched the refreshed Model Y in China in January. The company currently offers three variants of its best-selling SUV in China, including the rear-wheel drive version, the long-range all-wheel drive version, and the six-seat Model YL variant. The Model YL variant with a long wheelbase was launched in China in August.

In the U.S., Tesla launched two cheaper variants of its Model 3 sedan and Model Y SUV earlier this week, taking the total number of available variants in the country to four. The addition of variants comes as Tesla is expected to report a year-on-year decline in EV deliveries for the full year.

Tesla deliveries declined in both the first and second quarters of this year. In the second quarter, Tesla delivered 384,122 units, representing a 13.5% year-over-year decline. In the first quarter, Tesla reported deliveries of 336,681 units, marking a dip of nearly 13% from the corresponding quarter of 2024 and the company’s worst quarterly performance in at least two years.

In the third quarter, the company delivered 497,099 vehicles, marking a year-over-year growth of 7.4% and its highest quarterly deliveries to date.

However, the company must deliver over 570,000 vehicles in the fourth quarter to avoid a year-on-year drop in deliveries for the year. Tesla has not delivered over 500,000 vehicles in a quarter, making this an ambitious target.

TSLA stock is up by 7% this year and by about 79% over the past 12 months. 

Read also: Cidara Therapeutics Granted FDA Breakthrough Therapy Designation For Flu-Preventing Antiviral

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