To boost sales in China, Tesla has updated the Model Y’s hardware, which will add significant changes to the car. The brand expects slower growth in the global electric vehicle market, so the move will likely boost sales.
|Tesla China introduces Hardware 4.0 update for the Model Y, bringing significant changes to the built-in computer, driving function, and overall performance.
|New FSD computer 2, Autopilot sensors, cameras, and radar unit included in the update. New cameras will be installed on the front, pillars, fenders, cabins, sides, and more.
|HW 4.0 was already rolled out for Model X, Model S, and Model Y in the US. Tesla CEO Elon Musk mentioned in the TSLA Q4 earnings call that the company is working on Hardware 5.0.
|Tesla predicted slow growth in 2024 during the latest earnings call. Possible explanations include price cuts and promotional events in China, such as the Cybertruck promotional tour.
|Model Y Price
|Model Y’s price starts at 258,900 yuan. The hardware update, HW 4.0, will be available at no additional cost.
|Tesla unveils new colors for Model Y: gray, silver, and red.
|Earnings Call Highlights
|In the Tesla Q4 earnings call, Elon Musk mentioned the ongoing work on Hardware 5.0 and provided insights into the company’s predictions for slow growth in 2024.
|Promotional Events in China
|Price cuts and events like the Cybertruck promotional tour in China might be linked to Tesla’s anticipation of slow growth in 2024, as mentioned in the earnings call.
|Availability in China
|The latest hardware updates and new colors are part of Tesla’s offerings in the Chinese market for the Model Y.
|Cost of Hardware Upgrade
|The HW 4.0 upda
Tesla China recently revealed details about the Model Y updates on its official Weibo account. The electric vehicle manufacturer has shared information about hardware update 4.0, which will bring significant changes to the onboard computer, driving functions, and overall performance.
The sport utility vehicle will receive the new FSD 2 computer, new autopilot sensors, cameras and a radar unit. Once launched, the Model Y will have new cameras on the front, pillars, fenders, cabin, sides and more.
HW 4.0 has already been rolled out for the Model on hardware 5.0. On the same earnings call, Tesla also predicted slower growth in 2024, which could explain price cuts and promotional events in China, such as the Cybertruck promotional tour.
Tesla China is offering 8,000 yuan (RM5,296) of cash discounts from today for some types of Model Y EV.
Tesla has also upgraded the Model Y in China with Hardware 4.0, its latest version capable of Full Self-Driving function.https://t.co/eE2q8XdDh5
— Jeff Ooi (@Jeff4Malaysia) February 1, 2024
Along with the HW 4.0 update, Tesla has also introduced new colors: gray, silver and red. The Model Y price starts at 258,900 yuan and the latest hardware upgrades will be available at no additional cost.