Tesla is working on a new car, and it's going to be exactly what many are hoping for: a smaller, cheaper electric SUV. This is according to Reuters, which spoke with four people familiar with the matter. According to the report, the new car will be an entirely new model, and not a variant of the Model 3 or Model Y (Tesla recently discontinued its larger sedan and SUV, the Model S and the Model X). The new Tesla SUV would be about 14 feet long, making it considerably shorter than the Model Y, which is 15.7 feet long. It would also be "substantially" cheaper than the Model 3, which is currently the most affordable Tesla you can get, starting at $37,000 in the U.S.

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The new SUV, which Tesla plans to manufacture in China, might also be offered with a smaller battery and just a single motor instead of two (both the Tesla Model 3 and Model Y can come with either with one or two motors). This would make the car lighter than other Tesla models, but the smaller battery might also mean it'll have less range than existing models.

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There are no details on when Tesla plans to launch the new car, and the report says that the project is still in an "early development stage," meaning it might not happen at all.