The upcoming Tesla Model Y is an SUV crossover that will share about 75 percent of the underpinnings of the lower-cost Model 3 sedan. According to the Associated Press, this should expedite production.
The Model Y will be about 10 percent larger than the Model 3, and will cost about 10 percent more than the base price of the Model 3, Musk said in a series of tweets. The Model 3 starts at $35,000.
According to Elon Musk, the Model Y would require only 100 meters of wiring — a significant reduction over the 1,500 meters required for the Model 3 and the 3,000 meters required for the Model S and X.
Musk didn’t give out any specifications for the new Model Y. They will be released at its unveiling on March 14th. This will be Tesla’s fifth vehicle design since it was founded in 2003. Tesla released a black and white promo image in June 2017.
Earlier this year, there were some rumblings that a reveal of the Model Y would be coming soon. Previously, Musk has stated the car would be on the market by 2020 and would herald a “manufacturing revolution.”
Without a doubt, the past two weeks have been busy for Tesla. On February 28, Musk announced a price reduction for the Model 3. He also announced the closure of many of the company’s showrooms and has gone to online sales only. Apparently, this will help keep the price of the Model 3, and the new the Model Y at an affordable price.
