Tesla up as Reuters reports Musk-led firm developing smaller, cheaper EV

ReutersApr 9, 2026 10:09 AM

Tesla TSLA.O shares up 0.6% at $345.22 premarket

Elon Musk-led TSLA is developing an all-new smaller, cheaper electric SUV, four people familiar with the matter tell Reuters

Co has contacted suppliers in recent weeks to discuss details of the plan for the compact SUV, which would be a new vehicle and not a variant of Tesla's current Model 3 or Y - report

The compact SUV would be produced in China, and Tesla also aims to expand production to the U.S. and Europe - report

As of last close, TSLA down ~24% this year

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