What's the story Elon Musk-owned Tesla, is planning to manufacture a six-seater version of its popular Model Y SUV in China by late 2025, according to Reuters. This strategic move is aimed at enhancing the appeal of its bestselling yet aging electric vehicle (EV). Despite awaiting approval for expansion, Tesla's Shanghai factory is gearing up for a significant increase in the car's production. Production increase Tesla's market strategy and future plans In the US, Tesla is focusing on self-driving technology as well as robotaxi development. However, in China, the company is feeling pressure from domestic rivals who have introduced at least four Model Y competitors this year. These models offer more spacious interiors and are priced lower than their flagship models. Despite a reduction in its sales force due to global layoffs in May, Tesla anticipates an increase in overall China sales for Q3 due to strong growth in smaller cities. Facebook