Tesla (TSLA) plans to make a lower-cost version of its Model Y in Shanghai in an effort to regain ground lost in its second-largest market, Reuters reports. The model, which will be smaller and cost at least 20% less to produce than the refreshed Model Y that was launched in late 2024, is being developed under a project codenamed “E41” and will be built using existing production lines, three people with knowledge of the matter say. Mass production will begin at its biggest factory by output in 2026, say two of the people.
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