Tesla Is Reportedly Working on a Cheaper Electric SUV Model [CNET News]
Tesla, Inc. (TSLA)
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Source: CNET News
It's too early to say whether the project will make it to the production stage or what the timeline might be for such a vehicle. But if true, it indicates that the company would be looking to expand its portfolio with an eye toward addressing pricing pressures and increased competition in the EV market. Chinese companies such as BYD have made global strides in that have challenged the world's top EV makers abroad. A representative for Tesla did not immediately respond to a request for comment. According to the report, production of a new Tesla vehicle might be done in China, with some expanded production in the US and Europe. It would be smaller than Tesla's Model Y SUV. Tesla CEO Elon Musk was previously said to be pivoting away from plans for a low-cost EV in the $25,000 range a few years ago, but the latest report suggests this new car may lean more heavily into autonomous driving technology while also reviving the original project. This vehicle could offer a human driving o
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