Tesla will launch a stripped-down Model Y as its first "affordable" electric vehicle, according to a Chinese media report Thursday, while Reuters had a slightly different take Friday. Tesla stock popped Friday morning after falling Thursday amid general market weakness.

CNBC’s Phil LeBeau joins 'Closing Bell' to discuss Tesla next model with a lower price point and the upcoming auto tariffs.

For years, electric cars were seen as slow and boring, but that story has changed. In an epic speed battle, the Tesla Model S Plaid went head-to-head with two much more expensive electric beasts: the Lucid Air Sapphire and the Rimac Nevera.