Shanghai (ZXZC)- Tesla launched on July 8 the Standard Range (SR) version of its China-built Model Y SUV, which is available for presale from now on and is expected for delivery in August of this year.

China-made Model Y Standard Range; photo credit: Tesla

The new vehicle is priced from 291,840 yuan ($45,030) before governmental incentives, which reduce the base price to 276,000 yuan ($42,585), only 10% higher than Tesla's most-basic made-in-China Model 3 sedan. Previously, the Long Range and the Performance versions of the Model Y hit the market in China, starting at 347,900 yuan ($53,680) and 377,900 yuan ($58,310) before subsidies respectively.

The price difference between the Standard Range and the Long Range version mainly flows from the adoption of different batteries. The China-built SR Model Y uses the lithium iron phosphate batteries from CATL, according to a source close to the Ningde-based battery giant.

The latest version is listed with a range of 525km (326 miles) under the so-called “national standard” testing cycle, 69km fewer than that of the Long Range version.

Besides, Tesla said the new SR Model Y can zip from 0-100km/h within 5.6 second with a single motor at the real axle, compared to the 5 second for the dual-motor Long Range version.

For the first five months of 2021, the insurance registrations of Tesla's China-made vehicles amounted to 103,253 units, including 68,196 Model 3s and 35,057 Model Ys, according to the China Insurance Regulatory Commission. In May, the Model Y had a registration volume of 12,785 units, for the first time outselling the Model 3.