06:07 AM EST, 01/10/2025 (MT Newswires) -- Tesla (TSLA) unveiled a new version of the Model Y in China on Friday, featuring a redesigned exterior and upgraded interior features, Reuters reported.

The report said the new Model Y is priced from 263,500 yuan ($35,900), marking a 5.4% price increase compared to the previous version.

It added that deliveries in China are scheduled to begin in March, pending regulatory approval, and Tesla is also accepting orders in several other Asia Pacific markets.

Details regarding plans for the revamped Model Y in North America and Europe were not immediately available, Reuters reported.

The long-range variant now offers a driving range of 719 kilometers per charge, up from 688 kilometers.

Tesla's market share in China's battery electric vehicle market fell to 10.4% in 2024, down from 11.7% in 2023, according to Reuters.

Tesla did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)