Tesla expected to unveil lower-cost Model Y in push to reignite sales

Tesla is expected to unveil on Tuesday a more affordable version of its best-selling Model Y SUV, as the electric vehicle maker seeks to reverse falling sales and waning market share amid rising global competition.

Chief Executive Elon Musk for years has promised mass market vehicles, though last year he cancelled plans to build an all-new $25,000 EV, Reuters first reported. The car expected this week is an “affordable” vehicle based on current manufacturing and design platforms.

Tesla posted two clips on X over the weekend, igniting excitement among…