The American electric car manufacturer Tesla is to start producing a budget version of the best-selling Model Y in Shanghai, China, reports the news agency Reuters with reference to three anonymous sources with insight into the development.
The development of the budget version is going under the codename "E41" and it is to be produced in existing facilities, with a view to mass production for the Chinese market in 2026, according to two of the sources.
The model is also to be produced in Europe and North America in the future, according to one of the sources, who however could not provide any timeline for this.
According to two of the sources, the budget version will be slightly smaller and cost 20 percent less to produce than the new Model Y that was launched late last year.
