Tesla will sell Model Y electric cars in Canada for CA$59,990, made entirely in China

Residents of Canada will soon be able to buy Tesla Model Y electric cars imported from China. Production of the vehicles has started at the company's plant in Shanghai.

Here's What We Know

The Model Y is the best-selling Tesla electric vehicle in the world. The decision to ship Chinese-assembled vehicles to Canada will allow the company to connect its largest facility with its biggest market (North America).

Last week Tesla updated its Canadian website and added an announcement that a new version of the Model Y will soon be on the market. It will cost CA$59,990 ($44,200), which is CA$10,000 ($7370) and CA$16,000 ($11,790) cheaper than the Long Range and Performance variants respectively. Buyers will be able to get an electric vehicle from May to July 2023.

The Canadian government has updated its website and added the new Model Y version to the list of vehicles whose buyers are eligible for CA$5,000 ($3,685) in rebates. The Long Range version is also on the list.

Production of the Model Y for Canada in China began in April. By the end of the second quarter of 2023, the company wants to produce about 9,000 electric cars. The cars will be equipped with lithium-iron-phosphate batteries. Currently, electric cars with Chinese batteries are being sold in North America, but assembly is taking place in Texas.

Source: Reuters