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.

Tesla China has priced its six-seat Model Y variant about 30 per cent higher than its basic edition and has started accepting orders from customers who prefer spacious, long-range electric vehicles (EVs) for family use.