Elon Musk-Led Tesla Files For Model 3+ Trim In China With 500-Mile Range Amid Surge In Sales: Report
Tesla Inc. has filed for a new Model 3+ trim in China, featuring a 500-mile range due to advanced battery technology. This filing is a key regulatory step before sales can begin, coinciding with a rebound in Tesla's sales in China, which saw over 12,300 new registrations in mid-July. Despite a 6% sales decline in the U.S., Tesla maintains a 44% market share in the EV segment. The company also recently launched operations in India, offering the Model Y SUV.
Tesla Inc. TSLA has filed for a new trim level for the Model 3 sedan in China as the EV giant's sales rebound in the country following a poor start to July.
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What Happened: China's Ministry of Industry and Information Technology recently released documents showcasing the Model 3+ trim, CnEVPost reported on Wednesday.
Inclusion of the Model 3+ trim in the catalog released by the ministry is seen as the final regulatory step before it can be sold in the Chinese market, the report suggests.
The new trim will feature a single motor and ternary batteries, which offer higher energy density compared to an LFP battery.
The battery tech could lend the Model 3+ a range of almost 500 miles on a single charge. Dimensionally, the sedan remains the same as the regular Model 3, the report suggests.
Why It Matters: The news comes in as Elon Musk's company experienced an uptick in sales figures during the second week of July, recording over 12.3k new insured registrations in China.
Tesla also recently launched its India chapter with a showroom in Mumbai. The company will sell the Model Y SUV in the country for $70,000 for the base RWD trim.
Elsewhere, Tesla sales have declined 6% in the U.S., data released by experts shows. However, the automaker remains the segment leader in EVs with a 44% total market share in the U.S.
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