Tesla unveiled a lower-priced version of its Model 3 and Model Y electric vehicles. The auto manufacturer believes the more affordable EVs will revitalize consumer sales after global car deliveries dipped last year, Reuters reported, citing estimates from financial research company Visible Alpha.

Tesla CEO Elon Musk made two posts on X that appear to tease a new car or relaunch of a car for "10/7." Tesla stock had its largest one-day gain in a while.

The axing of several features delivers a considerably lower price, though the move is mighty ironic for a company that's always been about the future and cutting-edge tech.

With one video showing a spinning vehicle part and the date "10/7," many Tesla fans are expecting the long-anticipated "more affordable" Model Y.

Investors looking for a silver lining might have to squint to see it more clearly, but it's there. One reason Tesla remains a serious threat to its rivals such as Waymo is because once the autonomous technology and robotaxi become fully autonomous, the automaker can easily produce tons of vehicles from its factories in California and Texas.

Teslas can park themselves when they arrive at your destination -- and you can pick whether that's on the street, in a driveway or in a parking garage. The car will remember your preference for next time. While the software already allowed for a more basic level of parking, v14 improves on this.

"It's a really great sensor that can do things that cameras can't," Rivian CEO RJ Scaringe said of LiDAR.

Elon Musk has said his automaker would sell an affordable Model Y, as “people don’t have enough money in the bank account to buy it” despite high demand.