In January 2023 Tesla slashed the price of its electric cars in the UK, lowering prices by as much as £9,100 due to 'normalisation' of some of the cost of inflation. A move into more affordable EVs then could help reassert Tesla ahead of its Chinese rivals, as Musk's talk of the new cheaper model came hand in hand with the announcement that the company had missed its Q4 2024 revenue expectations. Last October Tesla said: 'We need to make EVs affordable for everyone, including making total cost of ownership per mile competitive with all forms of transportation.' The upgraded Model Y will be delivered to the UK in a Launch Series specification from May A new lower budget Tesla would follow the new Tesla Model Y hitting salerooms - the first time Tesla's worldwide best-selling model has been updated since it first launched in 2019. As well the more affordable EVs, Musk also promised that Tesla's Unsupervised Full Sell-Driving will launch as early as June in Austin, Texas. But it will only be a 'paid service' rather than available to customers who've already parted with cash to unlock the software itself, as it will be a separate entity to Fully Self-Driving software that is customer-focused. The robotaxi fleet won't include the newly-unveiled Cybercab which isn't expected until 2026 - instead it will offer a similar service to Waymo self-driving taxis that operate in four US cities already. If the cheaper Tesla does indeed arrive this year its closest rival in pricing and body style will be the £26,995 MG 4. Share or comment on this article: Is Tesla set to launch a cheaper EV soon? Here's why a sub-£28k model is on the cards... e-mail