The EV maker is scheduled to provide what is likely to be its most important update on operations since the launch of its Model 3 vehicle in 2017.

The electric vehicle maker is scheduled after market close on Tuesday to provide what is likely to be its most important update on operations since the launch of its Model 3 vehicle in 2017. Tesla said earlier this month that it would "hold a live company update" along with its results and the question and answer webcast,

While the price point for an "affordable" Tesla hasn't been revealed, Musk has long talked about an affordable EV for around $25,000, which would be roughly half the price of the current Tesla Model Y. The company may be hoping that a cheaper Tesla would help the company boost sales during a difficult time period.

How far do Tesla shares fall before he puts both hands back on the wheel? Investors got half an answer on Tuesday, with Tesla’s first-quarter earnings. Musk kicked off a call with analysts by saying he’ll be mostly back to his day job from next month,