Tesla down after report of delay in US production of cheaper Model Y

Tesla TSLA.O falls 6.7% to $225.31

Production launch of U.S-made, stripped-down version of Model Y delayed, Reuters exclusively reported

Co aimed to produce 250,000 of the cheaper Model Y in U.S. in 2026, two sources told Reuters

U.S. production would happen at least a few months later than outlined in co's public plan, sources said, offering a range of revised targets from Q3 to early next year

Car will be smaller, to cost at least 20% less to produce than refreshed Model Y, Reuters reported earlier

*Tesla set to report Q1 results on Tuesday after markets close

As of last close, stock down ~40% this year