Since then, the Model Y has fended off challenges from major automakers like Ford, Chevrolet, Hyundai, and Kia to become one of the top-selling vehicles in the world. Tesla sold nearly 1.8 million vehicles last year, and the automaker has an ambitious target of 20-30% sales growth this year.
The Model Y L, which adds new features including a rear row of foldable seats and powered armrests, went on sale for $47,200 in China on Tuesday. Its launch comes as Tesla battles fierce competition from local EV players like BYD, Xiaomi, and Xpeng. Electric vehicle adoption in China is far higher than in the US, and Chinese companies have rapidly taken market share with a wave of affordable electric models packed with high-tech features, including autonomous driving and voice controls.
