Shanghai, China — Tesla has unveiled its latest electric vehicle, the Model YL, designed to accommodate up to six passengers. Priced at 339,000 Chinese Yuan, or roughly $47,000, this new model is set to attract attention in a competitive SUV market.

The Model YL represents a significant addition to Tesla’s lineup, featuring a spacious interior that offers both comfort and convenience. It is approximately seven inches longer, one inch taller, and has a wheelbase that is six inches longer than the standard Model Y. This increase in dimensions aims to enhance passenger comfort and cargo capacity, with up to 2,539 liters of storage available.

Last month, Tesla teased the upcoming specifications for the Model YL, which generated significant interest among fans and potential buyers. Now, the electric car manufacturer has confirmed that the vehicle boasts a range of 751 kilometers (about 466 miles) according to the China Light Duty Vehicle Test Cycle (CLTC), which often shows higher performance figures than the more stringent WLTP or EPA standards. Comparatively, this range is similar to that of the smaller Model Y Long Range AWD, largely due to the YL’s larger battery.

Tesla’s online configurator made the Model YL available for order recently, allowing customers a firsthand look at the vehicle’s features and design, including updated aesthetics and functionality. The interior has been enhanced with electric armrests in the second-row seats, appealing to families and larger groups looking for an electric SUV option.

The pricing of the Model YL is notably higher than that of competitors like the Onvo L90, which retails at around $39,000, making it more expensive within the six-seater electric SUV segment. However, it remains competitively priced considering Tesla’s existing offerings. The market reaction to the Model YL will likely clarify if it can capture the attention of buyers in a rapidly evolving market.

Deliveries for the Model YL are scheduled to commence in September, according to company representatives. This announcement comes as part of Tesla’s broader strategy to expand its footprint in the growing electric vehicle market in China, where demand for alternatives to traditional combustion vehicles continues to surge.

As the company navigates competition and evolving consumer preferences, the reception of the Model YL in China may offer valuable insights into how Tesla’s future models will be received globally. Analysts predict that if priced similarly in North America, the Model YL could appeal to a wide audience, potentially influencing market dynamics and illuminating Tesla’s position in the global electric vehicle landscape.