It’s another Friday, so it’s time for another affordable Tesla rumor. The automaker is now expected to roll out a less expensive EV as soon as later this year , taking the form of a smaller Model Y.

In view of Tesla's declining market share, insiders say the company is working on an affordable new model based on the Model Y. The vehicle is to be built in

Key Takeaways Tesla is set to produce and launch a lower-cost Model Y vehicle in China likely in 2026, Reuters reported Friday—citing people with knowledge of the matter.The vehicle will also eventually be launched in Europe and North America,

Sources say the new EV will be a smaller Model Y, with mass production starting in 2026. Local rivals like BYD are eroding Tesla’s market share, prompting a new affordable model. The new electric car will reportedly be produced in China,

Tesla has plans to produce a low-cost version of its best-selling Model Y to boost sluggish sales in China, according to a report. The car will cost at least 20% less to produce than the version launched last year,

A report from Reuters states Tesla is planning a more affordable vehicle based on the Model Y electric crossover. It will be built first in China, but then in North America and Europe.

In a bid to regain market share in China, Tesla (NASDAQ:TSLA) is reportedly developing a lower-cost version of its best-selling Model Y in Shanghai. Citing people with knowledge of the matter, Reuters reported that the new model will be more compact and at least 20% cheaper to manufacture than the refreshed Model Y,