Tesla is ramping up efforts to boost sales in China by introducing significant hardware upgrades to the Model Y. The move comes as the electric vehicle (EV) giant anticipates a slower growth trajectory in the global EV market.
Details of the Model Y upgrades were recently disclosed by Tesla China on its official Weibo platform. The Hardware 4.0 update is set to bring substantial tweaks to the vehicle's built-in computer, driving functions, and overall performance.
The enhancements include the installation of the new Full Self-Driving (FSD) computer 2, upgraded Autopilot sensors, cameras, and a radar unit. The Model Y will see the addition of new cameras in various locations, including the front, pillars, fenders, cabins, and sides.
It's worth noting that the HW 4.0 update has already been implemented for Model X, Model S, and Model Y in the United States. During the recent Tesla earnings call (TSLA Q4), CEO Elon Musk revealed that the company is already working on Hardware 5.0. The announcement aligns with Tesla's prediction of slower growth in 2024, prompting strategic measures such as price cuts and promotional events in China, like the Cybertruck promotional tour.
In conjunction with the HW 4.0 upgrade, Tesla has also unveiled new color options, including gray, silver, and red. The starting price for the Model Y in China is set at 258,900 yuan, and the hardware update will be provided at no additional cost to customers.