Tesla has launched an affordable version of its Model 3 in Hong Kong and Macau, giving buyers a lower-priced entry point into the automaker's electric sedan lineup.

The new trim joins the existing Model 3 range in both markets, aiming to broaden Tesla's appeal as competition intensifies among global EV makers in the region.

Pricing and specifications vary slightly between the two territories, reflecting local registration, tax and import arrangements.

Analysts said the move underscores Tesla's push to defend market share as more affordable electric vehicles from Chinese brands continue to expand across the region.