Day: September 9, 2025

• Tesla just refreshed the Model Y, almost 6 years after it was first introduced.
• The electric SUV market is now much more crowded, with a parade of new competitors coming.
• Here are seven new models that are coming for the Model Y’s crown.

Tesla just did the first major refresh of its best-selling Model Y more than five years after the SUV-ish EV was announced in 2019.

Since then, the Model Y has fended off challenges from major automakers like Ford, Chevrolet, Hyundai, and Kia to become one of the top-selling vehicles in the world.

Tesla sold nearly 1.8 million vehicles last year, and the automaker has an ambitious target of 20-30% sales growth this year. A refreshed $45,000 Model Y could help it hit that lofty target as its remaining lineup begins to show its age.

The electric SUV market is now getting much more crowded, with a parade of new competitors every few months.

Here are seven new models — from China and Europe, mostly — that are coming for the Model Y’s crown.

Mercedes electric GLC

Price: Not yet listed, but expected around $50,000. (A current hybrid model starts at $60,300.)

Availability: GLC400 in late 2026, and GLC300+ early 2027

Range: 350+ miles, depending on trim

Show-stopping feature: An optional panoramic “Hyperscreen” powered by the MB.OS supercomputer.

BMW iX3

Price: Less than $60,000

Availability: Summer 2026

Range: Up to 400 miles

Show-stopping feature: The iX3 is the first SUV to be built on BMW’s Neue Klasse platform, which was designed specifically for EVs.

Xiaomi YU7

Price: RMB 253,500 (~$35,500)

Availability: Launched in July and currently only available in mainland China.

Range: 475 miles

Show-stopping feature: Xiaomi makes a lot of other consumer products in China, creating a robust tech ecosystem for users.

Xpeng G7

Price: RMB 195,800 (~$27,500)

Availability: Third quarter of 2025 in China and Australia.

Range: 375 miles

Show-stopping feature: Situated between the G6 and G9 variants, the G7 is billed as the first “AI car” and includes L3-level computing power.

Nio Onvo L90

Price: RMB 265,800 (~$37,000), or RMB 179,800 ($25,000) with battery subscription option.

Availability: Launched in July, available in China, Europe, and the Middle East.

Range: 375 miles.

Show-stopping feature: Beyond the dazzling tech (which can recognize more than 1,630 voice commands), the L90 uses Nio’s proprietary ultra-comfortable seat platform.

BYD Sealion 7

Price: ~$36,300

Availability: Introduced last year in China and Europe, with India and other additional markets arriving throughout 2025.

Range: 336 miles.

Show-stopping feature: The cabin is spacious, and the center screen rotates, which is pretty cool.

BYD Tang L

Price: RMB 239,800 (~$33,500)

Availability: Launched in April in China.

Range: 375 miles.

Show-stopping feature: All the perks of the Sealion, plus a third row. ‘Nuff said.

• Karen Hastie, 60, launched the Chamber Perks App, a tech startup in Ontario, Canada.
• Hastie sold her fitness business during the pandemic and decided to keep working instead of retiring.
• She has an exit strategy in place and plans to take a more hands-off role within the next few years.

This as-told-to essay is based on a conversation with Karen Hastie, the 60-year-old founder of the Chamber Perks App in Ontario, Canada. It has been edited for length and clarity.

Retirement was never really in my vocabulary — not in the way people expect.

I turned 60 this year. I never thought I’d be launching a tech company at this stage in my life, but here I am, building a startup I love, working 60 to 70 hours a week, and feeling more fulfilled than ever.

I’ve always been an entrepreneur

After graduating, I started my first business in the fitness industry, a fitness store that expanded throughout Northern Ontario. I ran that company for over 30 years. When the pandemic hit, I sold it in a seven-figure deal and made enough to retire comfortably.

Everyone assumed I’d do that. My daughter had just given birth to my granddaughter, and I’d wrapped up a decadeslong business. However, it just didn’t feel right. I knew I still had more to give.

I asked myself, “What do I really want to do with this next chapter?” I’ve always been passionate about helping small businesses, so I began consulting and mentoring entrepreneurs in my community.

I started working with one of the local Chambers of Commerce. That eventually led to the idea for my new venture, the Chamber Perks App, which helps the Chambers of Commerce deliver more value to their members. It felt like the perfect next step: solving a real problem, supporting small businesses, and doing it on my terms.

I had no background in tech, but I didn’t let that intimidate me

I know what I bring to the table: decades of experience running and growing a successful business. I also know you don’t have to do it all yourself; you just need the right people around you.

I built a strong and capable team from scratch. My CTO, who has experience working in Silicon Valley with tech startups and unicorn companies, is based in Calgary, and my daughter’s company handles all our marketing. She’s been in social media marketing for years, so it’s a natural fit for us to work together.

Working in tech at my age was an adjustment

Tech is dominated by younger people, so I hired accordingly for my account manager and developers. Some challenges I’ve faced while working with younger employees include adjusting my work habits to accommodate their needs, learning to respect their work-life balance, and avoiding micromanagement.

When I pitch our app, I’m doing what I’ve always loved: talking to people, solving problems, and creating value. My clients are Chambers of Commerce and Boards of Trade around the world, starting with 400 in Canada and 7,500 in the US. I start my day at 8 a.m. by meeting with clients, speaking at conferences, and working with my team.

I enjoy what I do, so it doesn’t seem like work. My daughter’s generation prioritizes work-life balance differently than mine. I’ll easily work a 60 to 70-hour workweek and not consider that long, but when you love what you do, it’s enriching.

I’m often asked by my peers, “Why not just enjoy retirement?”

I love to golf and travel, but that isn’t fulfilling for me. I need purpose. For me, retirement means having the freedom to do work you love without the pressure of providing for your family.

That’s the most significant gift of building my first business: I don’t have to stress about money anymore. I’m doing this because it matters to me. The company was bootstrapped and has no debt. All the money we’ve made for the past 2 ½ years has been reinvested into the company.

We’re now launching the second suite of services, a CRM for chambers called Chamber Member Pro. These two services are expected to grow over the next year, and I’ll then provide myself with a salary. The long-term goal is to grow, scale, and sell.

I do have an exit strategy

Whenever I mentor small-business owners, the first question I ask is, “What’s your exit strategy?” Most don’t have one. With Chamber Perks, I’m already thinking ahead.

This isn’t another 30-year run for me — God willing, I’ll still be around at 90, but the plan is to position the company for an acquisition or a more hands-off role for me within the next few years.

My advice to anyone thinking about launching a business later in life is to find something you love, surround yourself with people who complement your skills, and don’t be afraid to take the leap.