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By Abhirup Roy (Reuters) -Tesla unveiled more affordable versions of its best-selling Model Y SUV and its Model 3 sedan on Tuesday at $39,990 and $36,990, respectively, as the electric-vehicle maker seeks to reverse falling sales and waning market share amid rising competition. Tesla shares were down 4% shortly before the close. Both versions, called Standard, offer 321 miles (516 km) of range and less powerful acceleration than the current higher trims called Premium. They can be ordered immediately, with deliveries set to start between December 2025 and January 2026 for many locations, Tesla's website showed. The Standard versions do not come with Autosteer, Tesla's driver assistance system, or touchscreens for rear passengers. Tesla has also removed the LED lightbar in the cheaper Model Y. Both come with textile seats, with vegan leather available for the Model 3, and manually adjusted side-view mirrors. Chief Executive Elon Musk has for years promised mass-market vehicles, though last year he canceled plans to build an all-new $25,000 EV, Reuters first reported. Instead, he chose to build affordable versions based on Tesla's current models, sparking concerns among investors and analysts that the cheaper cars would cannibalize sales of existing vehicles and limit growth. "It's basically a pricing lever and not much of a product catalyst," said Shay Boloor, chief market strategist at research firm Futurum Equities. "I don't see it as unlocking new demand at scale." Late last year, Musk said the vehicle would be priced below the "key threshold" of $30,000 including U.S. EV tax credits. In the United States, prices effectively rose by $7,500 at the end of last month, when the credit ended. That helped goose quarterly sales to a record, but expectations are that they will slow down for the rest of the year, unless the affordable car comes to the rescue. "The desire to buy the car is very high. (It's) just (that) people don't have enough money in the bank account to buy it," Musk said in July during Tesla's second-quarter earnings call. "So the more affordable we can make the car, the better." Tesla had posted two clips on X over the weekend, igniting excitement among fans. One video shows headlights peering out of the dark and another shows what looks like a wheel spinning for a few seconds, followed by "10/7" — the U.S. format for the date October 7. CRUCIAL TO $1 TRILLION PAY PLAN Musk initially promised that production of the vehicle would start by the end of June. But Tesla only made what it called "first builds" of the car, it said in July, adding that it would be available for customers sometime in the last three months of the year. Tesla has already been grappling with slowing sales of its aging lineup as competition has grown rapidly, especially in China and Europe, where Musk's far-right political views have also undermined brand loyalty. Earlier this year, Tesla launched a refreshed version of the Model Y with improvements including new light bars and a rear touchscreen. Musk has been pivoting the company toward artificial intelligence, focusing on robotaxis and humanoid robots. Tesla has said it will launch more affordable vehicles in its lineup but has not provided details.  Sources have told Reuters the EV maker also plans to roll out a stripped-down version of its Model 3 midsize sedan. Affordable cars will also be key to Tesla delivering 20 million vehicles over the next decade – one of the several operational and valuation milestones set by the company's board as part of its proposed $1 trillion pay package for Musk. (Reporting by Abhirup Roy in San Francisco and Akash Sriram in Bengaluru; Editing by Peter Henderson, Richard Chang, Sriraj Kalluvila and Alan Barona)

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SAO PAULO (Reuters) -Telecom operator Claro, owned by Mexico's America Movil, is in advanced talks to buy Brazilian internet provider Desktop, news outlet Brazil Journal reported on Tuesday, citing two sources. The deal would involve a full takeover of Desktop, taking the Brazilian firm private, Brazil Journal said. Claro is conducting due diligence, but has not yet made a formal bidding offer for the company, the report added. Shares in Desktop, which is focused on providing internet through optical fiber, jumped over 16% in Sao Paulo following the news, before paring gains to trade up some 11%. Desktop did not immediately comment on the matter. And a spokesperson for America Movil declined to comment. Telefonica Brasil, a rival of Claro in Latin America's largest economy, last year had talked with Desktop for a potential acquisition. (Reporting by Andre Romani; additional reporting by Luciana Magalhaes in Sao Paulo and Cassandra Garrison in Mexico City; Editing by Kylie Madry and Natalia Siniawski)

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WASHINGTON (Reuters) -Toyota Motor said on Tuesday it is exploring the development of a small drone system primarily to support vehicle operations on unpaved roads and trails. The Japanese automaker said in a filing with the Federal Aviation Administration that the potential system aims to boost situational awareness in places where it is unsafe to exit the vehicle. "By providing the driver with views of the local environment, including potential hazards around and underneath the vehicle, drivers can plan safer routes and improve vehicle operations," the Toyota letter said. (Reporting by David Shepardson; Editing by Nia Williams)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)