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Elon Musk Just Unveiled Tesla’s New Model Y Compact SUV

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Tesla Reveals Model Y ‘Baby SUV’ Tonight: How To Watch Live

Tesla's targeted volume production date of late 2020 for the Model Y would put it behind electric SUV offerings from Audi, Mercedes-Benz and Jaguar.

You'll notice that the auto gets conventional rear doors instead of the Falcon Wing doors of the Model X. Elon Musk stated that the auto is expected to be one of the safest vehicles on the road.

The Dual-Motor All-Wheel Drive will also offer 280 miles range but with a top speed of 135 mph and a 0-60 of 4.0 seconds.

It took almost three years after Tesla's unveiling of the Model 3 before it sold for its promised price point of $35,000.

Tesla unveiled its Model Y, promising a much-awaited crossover that will face competition from European automakers rolling out their own electric rivals.

Price aside, Tesla clearly has high hopes for the Model Y. Musk stated he expects the company to "probably do more Y than S, X, and 3 [sales] combined".

The Standard version will cost $US39,000 ($A55,000 at today's rates), and will be introduced in the northern hemisphere in spring 2021.

At the high-end of the spectrum is the Performance Model-Y that has a $64,000 price tag and accelerates to 60 miles per hour in 3.5 seconds.

Tesla Reveals Model Y ‘Baby SUV’ Tonight: How To Watch Live

This blindsided employees and investors alike, and Tesla backtracked 10 days later, saying in a blog post that more stores would remain open and that it will need to raise vehicle prices by about 3 percent on average worldwide.

The vehicle also eschews keys, like the Model 3, and will connect to the driver's smartphone for entry and exit. "This timing likely implies the company is postponing the costly Model Y ramp in 2019 to conserve cash", Munster wrote in a note.

After the stream concluded Tesla tweeted a link to where customers can customise their future Model Y.

It also features a panoramic glass roof, seating for seven people and will come feature complete with autopilot some time later this year. Musk said that the company got a bit carried away with the Model X, creating something like "a Faberge egg meets a space ship".

The event at Tesla's Design Studio was very quick, with most of Musk's stage time centering around a retrospective of the company's accomplishments since 2008.

The cheaper version of the new vehicle starts with a battery that will last drivers for up to 230 miles.

"The biggest surprise was Model Y initial shipments will begin in the fall of 2020, a year later than we had anticipated". He did say, however, that orders are now being taken with a $2,500 deposit.

Given the popularity of SUVs in the US, the Model Y is likely to be even better-received than the Model 3-if it can skip to a drama-free production ramp-up as well as it skips the Model 3 hype. As is often the way with Teslas, it'll be little while before we get the Y in the United Kingdom, but who would bet against there being a glut of orders as soon as they are?

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