Tesla Inc Surges 3% on Rumors of Cheaper China SUV in Development

Tesla Inc shares climbed nearly 3% to $400.41 on reports of an all-new compact electric SUV under development. Unnamed Reuters sources describe a clean-sheet model—not a Model Y variant—potentially produced in China at a price well below the Model 3's $34,000 in China or $37,000 in the U.S. The rumor boosts optimism for Tesla's aging lineup refresh and access to China's NEV market (about 50% share), though unconfirmed with no Tesla comment and uncertain timelines. Market cap stands at ~$1.5T amid speculative growth potential.