Tesla has plans to produce a low-cost version of its best-selling Model Y to boost sluggish sales in China, according to a report. The car will cost at least 20% less to produce than the version launched last year, and will be manufactured on existing production lines, sources with knowledge of the matter told Reuters.

It looks increasingly likely that the much touted $25,000 entry level Tesla known colloquially as the Model 2 will not be built.