Tesla unveils its Model Y SUV

Tesla unveils its Model Y SUV

The Model Y is expected to enter production sometime in Fall 2020.

The Y is meant to be the spiritual successor to the Model 3, which went into production in mid-2017. Those who follow Tesla may have been mildly surprised by this, as the solar roof in particular got a lot of attention a few years ago, but has been nearly completely overlooked lately.

CEO and founder Elon Musk believes that demand for the Model Y could outstrip the Model 3, which has proven itself by a very long yard the most popular EV of 2018 and became the USA's best-seller in its segment late past year.

The new crossover model is expected to be slightly longer and taller than the Model 3. It wasn't until last month that Tesla announced it would take orders for the $35,000 version, which has a shorter range.

Tesla Inc unveiled its Model Y electric sports utility vehicle on Thursday evening in California, promising a much-awaited crossover that will face competition from European auto makers rolling out their own electric rivals.

The Model Y can be ordered here and requires a $2,5000 deposit. The Tesla Model Y is an SUV that seats seven passengers comfortably.

A lot is known about the Model Y thanks to the loose lips of CEO Elon Musk talking about it over the past three years.

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A side look at the Model Y.

Musk at the event tonight, admiring the new Model Y. That means if the Model Y is offered in a Standard Range, rear-wheel drive configuration like the Model 3, we should expect a starting price of around $38,500. The Model Y targets young family buyers with the SUV being bigger than the Model 3.

Musk also said the Model Y will be powered by the same battery as the Model 3.

"It feels like the Model 3", Musk said, noting the similar panoramic glass roof and dashboard design.

The Model Y could accelerate from 0-60 in 3.5 seconds.

Based on the success of the Model 3 and the growing popularity of SUVs (which held over 40 per cent of the Australian market at 2018's end according to industry expert V-Facts), it is thought that the Tesla Model Y could sell as many as double that of the Model 3.

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