The company promised that it has high hopes for the future, and one is a new ‘affordable model.’ Set to go into volume production later this year, Tesla is apparently already building it in low numbers. Amid questions at the end of yesterday’s earnings call, someone asked what the new model would look like.

Production of the cheaper Model Y actually began in June, although full capacity won't ramp up until later in the year. It ought to go on sale in Q4, according to Tesla, and you know that when Tesla gives you a date, you can take that to the bank. No word on what the new Model Y will (or, rather, won't) feature.

In an earnings call Wednesday, Tesla CEO Elon Musk “let the cat out of the bag”: The new, more affordable electric vehicle the company has been touting for over a year, and that has been singled out as the one thing that could pull Tesla out of its sales rut, wasn’t new at all. It was just the Model Y.