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Tesla to Hold Model Y Event on March 14

Tesla to Hold Model Y Event on March 14

Enterprise & IT Mar 4,2019 0

Elon Musk on Sunday said that Tesla will unveil its Model Y crossover in less than two weeks.

In subsequent tweets Sunday, Musk said that the Model Y will have “normal” doors as opposed to the Falcon Wing doors that distinguished the Model X and the Model Y will cost about 10 percent more than the Model 3 since it’s a larger SUV. The company’s pricing is largely based on the battery range offered.

He announced a “Model Y unveil event on March 14 LA Design Studio.” The facility is adjacent to SpaceX, the rocket company Musk also leads, in Hawthorne, California.

“Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more & have slightly less range for the same battery,” he tweeted. “Detailed specs & pricing will be provided, as well as test rides in Y.”

The addition of a cheaper battery-powered SUV comes as demand for Tesla’s pricier X, which can cost more than $100,000 with premium options, appears to have cooled. During the company’s January 30 earnings results call he described X as a “Fabergé egg of cars.” “It's an incredible vehicle and probably nothing like it will ever be made again, and maybe it shouldn't.”

On Thursday, Tesla announced that customers can now order the $35,000 Model 3 with the standard range battery, a long-awaited goal. The automaker also said it’s “winding down” many of its stores and shifting to an online sales strategy.

The Shanghai Gigafactory, based in eastern China, aims to manufacture Model 3 and Model Y cars, with annual capacity of 250,000 vehicles.

Tags: teslaelectric cars
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