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article imageTesla's Elon Musk unveils Model Y electric crossover SUV

By Karen Graham     Mar 15, 2019 in Business
Tesla unveiled a new electric crossover SUV, the Model Y, during an event at the company’s design studio in Hawthorne on Thursday evening. Chief Executive Elon Musk said the compact SUV would be priced at about $47,000.
According to CNN, the most affordable version of the Model Y crossover SUV will be available for a base price of $39,000 and a 230-mile battery range - but customers will have to wait until 2021 to own one of the five-seater SUVs.
Musk wants to sell the more expensive version of the Model Y first, with prices ranging from $47,000 to $60,000 and offering a 300-mile battery range. The Model Y will be the electric car company's fifth model. Tesla has spent the last three years working to keep its promise made in 2016 to produce a mass-market electric sedan for $35,000.
The one thing everyone is in agreement over is the move by Tesla to dive into the SUV market. Right now, SUVs are the hottest seller in the automotive market here in the United States.
Musk was very enthusiastic Thursday night when talking about the Model Y. He said he expected Tesla to sell more Model Ys than Model 3s and Model Xs combined. “It’s wild to think about, 11 years ago today we’d made literally one car. And a year from now we’ll have made a million,” Musk said.
US automaker Tesla is a key reason why the US has overtaken Europe as the world's second larges...
US automaker Tesla is a key reason why the US has overtaken Europe as the world's second largest market for electric cars
Robyn Beck, POOL/AFP
Questions still remain
While Tesla's move to unveil an SUV is a smart move, "This could be Tesla's most profitable vehicle, with the giant asterisk that the company doesn't do some of the dumb things it has in the past," Gartner analyst Mike Ramsey tells the Associated Press.
Other concerns focus on the mercurial Elon Musk, himself. He could mess up the company's plans by being overconfident on the production schedule - making promises Tesla can't keep. "Until Elon is gone, Tesla is going to be a crazy company that occasionally makes breathtaking products," Ramsey said.
The one saving grace about the Model Y is that it is being built on the same platform as the Model 3 and use many of the same parts. This should make the company's production problems easier to negotiate. But we will see what the future brings.
More about model Y, Tesla, crossover SUV, rides like a sports car, elon musk
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