$Tesla (TSLA.US)$ ’s Shanghai-made Model Y has received an e...

$Tesla (TSLA.US)$ ’s Shanghai-made Model Y has received an enthusiastic initial response from Chinese customers eager to place orders for the battery-powered SUV, after Tesla priced it much lower than their expectations.
Tesla is up 2.34% in pre-market.

This could be bad news for the competition as it threatens $NIO Inc (NIO.US)$ 's growing dominace in the Electric SUV segment of the Chinese EV market.