Tesla Prices New Model Y With Eye on Luring Chinese Families

Tesla Inc. priced its new six-seat Model Y sport utility vehicle in the same range as local rival Li Auto Inc.’s extended-range L8 model to win over middle-class families in China’s hyper-competitive market.

The new variant of Tesla’s top-selling model will be available for as low as 339,000 yuan ($47,200), the company posted Tuesday on Chinese social media platform Weibo, with deliveries anticipated as early as September.