The upcoming Tesla "affordable" EV will be a lower-priced, stripped-down Model Y, not a new form factor, according to China media. Tesla stock fell.

Tesla China is working on a cheap Model Y variant that might launch later this year to boost demand if the refreshed Model Y sales disappoint

Japanese automakers have treaded carefully into the EV waters, with companies like Toyota and Lexus taking their dear time releasing electric models. While the pair each offer one electric model in North America,