The upcoming Tesla "affordable" EV will be a lower-priced, stripped-down Model Y, not a new form factor, according to China media. Tesla stock fell.

Tesla China is working on a cheap Model Y variant that might launch later this year to boost demand if the refreshed Model Y sales disappoint

Tesla is preparing to launch a couple of new more affordable electric vehicles and the first one is expected to basically be a stripped-down Model Y, according to a new report from China. We have been reporting on this new vehicle program from Tesla for a while now.

Notes given to President Trump to help him sell Teslas in front of the White House included prices and reminded him to use terms like ‘affordable.’

Tesla is facing a worldwide backlash after Elon Musk openly sided with the far-right movements, with sales crashing and people selling their Teslas

In front of the White House as he looked over the Tesla vehicles, President Trump said he would not be allowed to drive his new car.