Tesla sales have been in a massive worldwide slump, including in China, where local EV companies have gained significant ground on the American automaker. Tesla releases refreshed Model Y in China, preps cheaper version for future: 'You will know after trying it' first appeared on The Cool Down.

Not too long ago, Tesla had much of China’s new EV market to itself, but as local rivals like BYD are on their way to becoming international juggernauts, the American brand is now facing more competition than ever before. To combat this, Tesla’s Chinese division has reportedly developed a new, lower-priced version of the Model Y.

Teams at Tesla’s Shanghai plant are working to strip features from the current Model Y or simplify them so that the new model could be produced on existing manufacturing lines,