06:56 AM EST, 01/24/2025 (MT Newswires) -- Tesla (TSLA) launched a new version of its Model Y in the US, Canada and Europe on Thursday, about two weeks after it was first released in China, multiple media outlets reported.

According to the company's website, the new Model Y will cost $59,990 in the US, which is 25% higher than its predecessor which costs $47,990, the reports said.

The new variant comes equipped with a supervised self-driving software and Tesla will start deliveries in March, according to the reports.