In an earnings call Wednesday, Tesla CEO Elon Musk “let the cat out of the bag”: The new, more affordable electric vehicle the company has been touting for over a year, and that has been singled out as the one thing that could pull Tesla out of its sales rut, wasn’t new at all. It was just the Model Y.

The company promised that it has high hopes for the future, and one is a new ‘affordable model.’ Set to go into volume production later this year, Tesla is apparently already building it in low numbers. Amid questions at the end of yesterday’s earnings call, someone asked what the new model would look like.

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.