It looks increasingly likely that the much touted $25,000 entry level Tesla known colloquially as the Model 2 will not be built.

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.