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Tesla, Inc. TSLA reportedly received 50,000 orders for its redesigned Model Y within 24 hours in China. Per BofA Securities, the updated SUV is priced 5% higher than the previous version.

Tesla (TSLA.O), opens new tab launched a redesigned version of its best-selling Model Y crossover in the United States, Canada and Europe on Thursday, weeks after it was first released in China.

This follows its initial release in China a few weeks ago. The updated Model Y, a long-range all-wheel-drive variant, is priced at $59,990 in the U.S., as listed on Tesla's U.S. website.