The introduction of a more affordable Tesla Model Y SUV has reportedly been delayed.
Tesla had initially planned to assemble around 250,000 units of the cheaper Model Y variant in 2026, but the launch date has been postponed.
The lower-cost Model Y is expected to have a smaller footprint and be priced approximately 20% lower than the current model, putting Tesla in competition with Hyundai, Kia, Chevrolet, Toyota, Volkswagen, and Ford.
In addition to the Model Y, Tesla is also working on a stripped-down version of its Model 3, although plans for an affordable EV priced at $25,000 have been put on hold.