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Main » Tesla set to reveal highly-anticipated Model Y compact SUV

Tesla set to reveal highly-anticipated Model Y compact SUV

16 March 2019

Evidently, common sense prevailed and Tesla made a decision to drastically cut down on development and production costs of the Model Y by using one of its existing platforms. Later on, Sunday (March 10th), the company said that they would be closing only half of their stores, they had initially planned to shut down, as the company had been exploring the options of cutting overhead and shifting their whole distribution network online, a move which was widely criticized. Let us take a closer look.

A U.S. District Judge Tuesday granted the Securities and Exchange Commission permission to respond to Tesla's CEO Elon Musk's claim that his February tweet on the electric auto maker's production plans was not in violation of his fraud settlement.

In announcing the move on February 28, CEO Elon Musk said it was necessary to cut costs in order to profitably sell the mass-market version of the Model 3 sedan for $35,000. The Model 3 sedan will be Tesla's first vehicle to support the faster charging speeds, Tesla says.

Tesla claims this combination of higher peak power with V3, dedicated vehicle power allocation across Supercharger sites and a new feature called On-Route Battery Warmup (the auto will intelligently heat the battery to ensure you arrive at the optimal temperature to charge) will enable customers to charge in half the time-around 15 minutes in most instances.

Tesla does have an SUV among its lineup - the Model X - but crossovers are quite popular these days and the company does want to offer a choice to potential Model 3 buyers who're looking for a slightly taller and heavier vehicle. Musk added that the base price does not factor in gas savings and tax incentives which could further lessen the cost of owning a Tesla and that's been the goal right from the beginning.

Last week, Tesla has launched its new base Model 3, priced at $35,000 and comes with a standard battery pack.

Tonight at 8pm PDT (11pm EST), the Model Y will be unveiled to the world at a special event at Tesla's Los Angeles Design Studio. "Detailed specs & pricing will be provided", said Musk on March 3. The Shanghai Gigafactory is expected to produce five hundred thousand entry-level model 3's and Y's by the end of 2019. Tesla declined to comment on the report. He therefore reasoned that the demand for Model y will be 50% higher than model Y.

Tesla set to reveal highly-anticipated Model Y compact SUV