Samsung Electronics has entered into a $16.5 billion contract for supplying semiconductors to Tesla, based on a regulatory filing by the South Korean firm and Tesla CEO Elon Musk ’s posts on X.

Elon Musk has finally confirmed that Tesla’s new ‘affordable’ electric car is just going to be the Model Y in a cheaper format. Musk has ended months of speculations and misinformation, which he partly created, about Tesla’s upcoming cheaper electric vehicle model.

As the accomplished salesman he is, CEO Elon Musk really went all out to hype up the new vehicle, pulling out every trick in the book to delight both your intellect and your senses: "It's just a Model Y,