Tesla Inc. plans to unveil a cheaper version of the Model Y on Tuesday, according to people familiar with the matter, following through on assurances it will have a more affordable vehicle to counter the loss of US incentives for electric vehicles. The new base Model Y is what Tesla started teasing in social media posts over the weekend, said the people, who asked not to be identified discussing private information. The cheaper vehicle will lack certain features and use less premium materials to offset the loss of the up to $7,500 federal tax credit that the US stopped offering as of this month, the people said. Bloomberg's Craig Trudell reports.