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Tesla may have no new car coming after all as report reveals plan to launch a stripped down Model Y

Fortune
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Tesla is developing a low-priced version of the Model Y, its best seller with roughly 1.1 million units sold.

This suggests that hopes of a coming entry level compact car, possibly a hatchback rather than a sedan, will not come to fruition.

The car codenamed “ E41 ” will start production next year in Shanghai and will be at least 20% cheaper to produce than the current refreshed Model Y.