Tesla has revealed plans to make a cheaper version of its best-selling Model Y in Shanghai, according to three sources speaking with Reuters.

Tesla told the Trump administration that its ongoing tariff war could make it more expensive for the electric car company to build vehicles in the U.S. “Trade actions should not (and need not) conflict with objectives to further increase and support domestic manufacturing,

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.

After a slight rebound earlier this week, Tesla's TSLA stock is back to falling, keeping with its recent performance. Even U.S. President Donald Trump's purchase of one hasn’t done much to spark real momentum for the electric vehicle (EV) leader.

Tesla stock closed down 3% at $240.68, while the S&P 500 and Dow Jones Industrial Average lost 1.4% and 1.3%, respectively. Tesla stock rose 7.6% on Wednesday after gaining 3.8% o