Tesla Inc’s TSLA mid-size sports utility vehicle Model Y would now take even longer with deliveries in China, the electric vehicle maker’s website shows.
What Happened: The delivery time for the $43,200 Model Y standard range is now stretched to 10-14 weeks, from the earlier 6-10 weeks range.
The delivery for the Long Range and the Performance variant is estimated to take place in the fourth quarter; cnEVpost first reported on the development.
See Also: Elon Musk Loses Record $50B Wealth In 2 Days As Tesla Stock Crashes Following Twitter Poll
Why It Matters: Tesla launched the locally made Model Y standard range in July and started customer deliveries on August 26. The entry-level variant of Model Y uses CATL's more affordable lithium iron phosphate batteries.
The Elon Musk-led company sold 54,391 electric vehicles to dealers in China in October, a rise of 348% on a year-on-year basis, as per China Passenger Car Association.
Price Action: Tesla shares closed 11.99% lower at $1,023.50 a share on Tuesday.
Photo: Courtesy of Tesla
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