Tesla teased an Oct. 7 event, in which investors and analysts anticipate a more affordable model to sustain sales momentum, sending the shares of the Elon Musk-led electric automaker 3% higher in early trading on Monday.

In a nine-second video posted on social media platform X on Sunday, Tesla showed a vehicle with its headlights illuminated in a dark setting, while hinting at an event set for Tuesday in a separate video that had “10/7” at the end.

Tesla has previously delayed rolling out a lower-cost version of the Model Y in the US. It said in June it had made “first builds” of the vehicle, but would start selling it in the fourth quarter and ramp up output at a pace that would be slower than planned.

Tesla has previously delayed rolling out a lower-cost version of the Mod

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