Tesla's long-wheeled, six-seater Model Y L 'coming soon' to China - report

[Tesla - Shanghai, China]
Min Zhang/iStock Unreleased via Getty Images

* To bolster sluggish sales and increase its competitiveness in the country, Tesla (NASDAQ:TSLA [https://seekingalpha.com/symbol/TSLA]) will launch the Model Y L in China, a six-seat, long-wheeled version of the Model Y.
* The new design – which extends the distance between the front and rear axles over a standard version – is intended to appeal to the Chinese consumer, where long-wheeled vehicles are favored.
* According to Reuters, Tesla (NASDAQ:TSLA [https://seekingalpha.com/symbol/TSLA]) announced the upcoming launch Monday on social media platform Weibo, having previously registered plans to introduce a new model in the country. The company also plans a longer-range, rear-wheel drive Model 3 in China.
* Tesla’s (NASDAQ:TSLA [https://seekingalpha.com/symbol/TSLA]) sales in China were down 8.4% in July, falling further behind competitor BYD (OTCPK:BYDDF [https://seekingalpha.com/symbol/BYDDF]) (OTCPK:BYDDY [https://seekingalpha.com/symbol/BYDDY]) whose BYD Song remains the best-selling electric vehicle in China.
* The development helped erase early losses for Tesla (NASDAQ:TSLA [https://seekingalpha.com/symbol/TSLA]) with shares modestly higher in early Monday’s trading.

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