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Tesla, Inc. (TSLA) saw a modest increase of +0.14%, trading at $395.49 as of 2:26 PM on Friday, January 10, 2025. This comes as the company prepares for the launch of a refreshed version of its popular Model Y, which accounts for roughly two out of every three Teslas sold. The updated Model Y is set to debut first in China in March, with deliveries scheduled to begin shortly thereafter.
The refreshed Model Y, code-named “Juniper,” features subtle exterior updates, including headlights that resemble those from the Cybercab robotaxi concept, and significant improvements to the interior. The new version also boasts an upgraded range, with the long-range model offering 719 kilometers (447 miles) on a single charge, a 4.5% improvement over the current version.
The success of the Model Y refresh is crucial for Tesla as it faces increased competition in the global electric vehicle market. Although the U.S. launch date, pricing, and range have yet to be announced, the updated vehicle will likely be priced differently for the American market.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.