Tesla Teases New Affordable Model Y Launch

Tesla is set to unveil a more affordable version of its Model Y, expected to be around 10% cheaper and starting at approximately $40,000, featuring design downgrades to reduce costs. Meanwhile, Xiaomi is expanding into the luxury EV market with highly customizable vehicles, posing a threat to Western premium brands. Tesla's insurance division faces regulatory scrutiny in California for mishandling claims, highlighting challenges in Tesla's vertical integration strategy. Overall, Tesla's efforts to lower prices and expand market share face both competitive and regulatory hurdles.