Tesla set to reveal highly-anticipated Model Y compact SUV

Tesla set to reveal highly-anticipated Model Y compact SUV

While the new SUV is expected to be built on the same platform as the Model 3, we should expect more seats on the inside, as well as a new set of instrument panels - something which has been a feature so far on every new Tesla model. The Model Y will most likely be a much more conventional electric SUV.

Electric vehicle maker Tesla Inc. had evaded its plans of closing all of its USA stores, a blog post on Tesla's official website revealed on Monday, the 11th of March 2019, and the post also added that instead of shuttering all of their United States stores, the Tesla Inc.

Tesla Model Y is all geared up to launch after the much-anticipated wait.

Thursday's reveal comes amid a turbulent time for Tesla, as it attempts to make good on its promise of providing a cheaper Model 3 and Musk battles with federal regulators.

The bad news for customers is that the cost savings for Tesla only meet half of what was initially forecast, so Elon Musk and his team feel they need to raise vehicle prices by about 3 percent on average worldwide. Details concerning the new vehicle are scarce, but Musk says the SUV will be bigger than the company's latest Model 3 sedan.

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The first public beta site for V3 Supercharging opened last week in California for Model 3 owners. Hence, we expect Tesla Model Y to come out at $38,500 for the basic variant.

The SEC has apparently taken issue with a recent comment that "Tesla made 0 cars in 2011, but will make around 500k in 2019", which Musk posted on Twitter after trading hours and quickly clarified that he meant an annualized weekly volume that equates to 500,000 in a year. The SEC said Musk's February 19 tweet was inaccurate, and that he didn't search nor obtain pre-approval previous to publishing. The move is created to increase Tesla's vehicle transportation capacity and cut delivery times.

First and foremost, 75 % of Model Y's components is shared with the Model 3.

Tesla aims to increase factory capacity and multiply production manifold.

Musk also added that the company will be shutting some of its stores and laying off the workforce, which allows Tesla to decrease the price of the vehicle and save a lot of money. The Shanghai Gigafactory is expected to produce five hundred thousand entry-level model 3's and Y's by the end of 2019.

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