The rate at which China is building Tesla Model Ys is mental

Tesla delivered 499,550 vehicles in 2020, just 450 units shy of the projected target for the full year. However, with the new Model Y and the Giga Factory in Shanghai, the EV maker is on course to have its best year yet in 2021. In fact, the rate at which Tesla is producing Model Ys in China is quite impressive.

China is the largest automotive market in the world and the country is hungry for more EVs, which is why even domestic competition is heating up. In 2019, Tesla built the Giga Factory in record-breaking time and it is now ramping up production for the Model Y as well as the Model 3. Around 20,000 Model 3s roll off the assembly line at the factory every month and even more Model Ys are being built.

The Model Y starts from $52,000 in China, making it marginally more expensive than the equivalent spec for the US market, and the company is also trying to lure away VW customers because there's a long waiting list for the ID.4, which is the Model Y's main competitor.

The Model Y, a compact SUV, was introduced in March 2019 as a smaller, less expensive alternative to the Model X. It is based on the Model 3 and available in three different variants. The entry level Standard Range can travel 244 miles on a charge, the Performance model has an EPA-rated range of 303 miles and then you have Long Range AWD model, which comes with an EPA-rated range of 326 miles.