Tesla Inc. has filed for a new trim level for the Model 3 sedan in China, as the company’s sales in the country have started to rebound. This comes after a slow start to July, with sales figures now showing a significant increase.
What Happened
China’s Ministry of Industry and Information Technology has released documents showcasing the Model 3+ trim. The inclusion of this new trim in the ministry’s catalog is seen as the final regulatory step before it can be sold in the Chinese market.
The new trim will feature a single motor and ternary batteries, which offer higher energy density compared to traditional batteries. This could give the Model 3+ a range of almost 500 miles on a single charge. The dimensions of the sedan remain the same as the regular Model 3.
Why It Matters
This news comes as Tesla experiences an uptick in sales figures in China, with over 12,300 new insured registrations recorded in the second week of July. This is a significant increase, making it one of the highest second-week sales figures ever.
Tesla has also recently launched its Indian operations, with a showroom in Mumbai. The company will sell the Model Y SUV in India, with the base RWD trim priced at $70,000.
In contrast, Tesla’s sales have declined 6% in the US, with data showing a drop in EV sales. However, the company remains the segment leader in EVs, with a 44% total market share in the US.
Key Points
- Tesla files for new Model 3+ trim in China
- New trim features single motor and ternary batteries for increased range
- Sales figures in China show significant increase
- Tesla launches Indian operations with Mumbai showroom
- US sales decline 6%, but company remains EV segment leader
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