Tesla Model Y: new electric mid-size SUV revealed


Tesla has unveiled the SUV variant of the Model 3 in Hawthorne, California.

On Tesla.com, you can already build and order a Long Range Model Y, with $2,500 down, today-which is one of the key differences versus Model 3, where the $1,000 merely secured a spot to be able to build a vehicle later. And when the Model Y finally did appear, it was instantly clear that it is the result of Tesla's near-permanent "production hell": barely distinguishable from the Model 3, Tesla's new crossover is the most lukewarm and evolutionary new product it has ever introduced.

'This will be really tight on corners, ' he said.

All four variants will have a panoramic glass roof, 66 cubic feet of interior space and can seat up to seven, Musk said.

Customers willing to hold out until the Spring of 2021 can get the Standard Range Model Y, which will cost upwards of $39,000 according to Tesla. The standard battery will have a range of 230 miles with the long-range version capable of 300 miles on a single charge.

Tesla is inching closer to launching its next vehicle - the Model Y crossover - but the company has not yet chosen a site at which to build it just months ahead of the planned start of production, .

As it stands now, for the rear-drive Long Range spec Model Y, you're looking at a starting price of $47,000. Buyers can choose a standard five-seat interior, or for a limited time pay $3,000 more for seven seats.

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It's an important launch, maybe Tesla's most important ever. Tesla said it hopes to build 2,000 Model Ys per week by September 2020. Some key executives have left the company recently. Then, when Elon Musk said he expects the Model Y to outsell the S, X and 3 combined, it had many of us returning to a thought we've had before. The LR-AWD Model-Y has a $53,000 price tag and has two motors.

He revealed that last night, Tesla had prevented its 4 millionth metric ton of carbon emissions thanks to their electric vehicles and Musk said that it was his belief that Tesla will have produced 1 million cars by March of next year. "It's tough to say the Model 3 was the wrong auto all along".

Tesla is now making a major U-turn and will reinstate normal prices for its cars, aside from the base price Model 3.

Musk also suggested that driving a Model Y on Mars in ten years was not out of the question. These schedules come from a company who's notorious for manufacturing problems, but right now, Musk seems to have gotten the Gigafactory under control. Bringing in early down payments for the vehicles would help Tesla generate the cash it needs to repay almost $1.7 billion in loans that come due within the next 16 months.

Higher-end versions will start delivery in the autumn of next year.

Another $566 million in notes are scheduled to be repaid this November followed a $1.1 billion credit line in June 2020. The Model Y is also expected to achieve five-star safety ratings and can be enhanced over time via over-the-air updates. With Americans increasingly ditching sedans for crossovers and SUVs, the newest addition to Tesla's product range will play a crucial role in driving future sales. Musk now says Tesla has worked out those issues.