The electric car manufacturer presented the model on its website on Tuesday. It will cost from approximately 38,000 dollars, equivalent to just over 350,000 kronor. This is 15 percent lower price than the regular Y model, writes Bloomberg.
The model will have a shorter range and lack some equipment, such as a second row of touch screens and have fewer speakers.
The company had previously hyped up the market by giving cryptic clues in the form of short videos on social media over the weekend.
Tesla's stock soared on Monday. But on Tuesday, it fell instead by 4.5 percent.
For a long time, there has been speculation that Elon Musk and Tesla want to launch a cheaper variant, among other things to compensate for withdrawn support for electric car purchases in the important US market, where buyers have previously been able to receive 7,500 dollars in government bonus.
