There have been rumors about a more affordable Tesla EV for a few years, but things seem to finally come together. According to three people who are knowledgeable about the matter, as quoted by Reuters, Tesla will launch a lower-cost model this year to try to regain lost ground in China and everywhere else.

Tesla owners are struggling with the realities of protest-selling their EVs, plus, Elon Musk still thinks he's worth $56 billion and more. Resale values have collapsed in recent years, with the average price of a used Tesla now $10,000 less than that of a non-Tesla electric car.

Musk and Trump turned the south drive of The White House into a Tesla dealer lot so the President could by a Tesla, even though he only drives a golf cart over democracy and the economy down along with stocks and his approval rating.