Tesla releases new model of its Model 3 in China. The car is commonly referred to as the Model 3 Highland, which is an improved version of the original Model 3 sedan. The new model is more well-liked due to its smaller size and lightweight feel. Tesla made this announcement on Weibo, a Chinese social media platform.
Targeting the Chinese market with a customized version of the Model 3 showcases Tesla's tactic to bolster its position in one of the world's major automotive markets. The smaller and lighter design could be more suitable for the widespread urban environments in China, potentially leading to greater market acceptance. While targeting the specific demographics in China, Tesla can build stronger brand loyalty, ultimately creating higher supply and demand.