Tesla Unveils Model Y

Musk personally revealed Tesla's newest baby at the Tesla Design Studio in Hawthorne, California on Thursday night, livestreaming the experience on its website.

"While some have argued that the production of Model Y could potentially cannibalize Model 3 deliveries, in our opinion this is a smart and strategic move by Musk & Co.as they aim to further their leadership position in the electric vehicle market by now going after the hot SUV crossover market", Ives wrote.

At the cheaper end of the scale, the Standard Range Model Y will cost $39,000 and can travel 230 miles on one charge. Not that that's a bad thing: the Model 3 has already proved itself to be a solid entry into the EV market.

This announcement is also part of the company's longer-term plans to bring affordable and cutting-edge electric vehicles to a wider consumer base on a global scale and follows on from the announcement of the affordable Model 3.

The Dual Motor AWD model, meanwhile, delivers 280 miles of range albeit at a quicker 0 to 60 time and a higher top speed - 4.8 seconds and 135 mph, respectively, at a starting price of $51,000. There are no "falcon wing" doors, and the interior has just one central touchscreen, like Tesla's Model 3. The increased commonality should make the Model Y easier to integrate into current assembly processes and make it somewhat less expensive to produce.

The first versions of Model Y are expected to arrive in the fall of 2020, while the Standard Range version will be released in 2021.

The Model Y, though, has a timescale fully cognizant of the change in tax credit eligibility; unless there's a shift in federal attitudes towards EVs, it seems Tesla buyers will have to get used to less encouragement from the government to go EV.

The Model Y is the automaker's newest offering its product line, strategically placed to fit neatly between the Model 3 sedan and the Model X SUV.

The second Model-Y variant is the Long Range Rear Wheel Drive, which has a $49,000 price tag.

Tesla CEO Elon Musk expects to sell more Model Y units than Model 3, Model S and Model X combined. There will be three more models.

And the Model Y has no doubt been a bit of relief for Musk after a tumultuous week.

As to the technical data and prices of the Model Y; According to Tesla, the basic version "Standard Range" will cost 39,000 U.S. dollars (net price). The $60,000 Performance model will be the most expensive variant, with a 280-mile range and a 150 miles per hour top speed.

Tesla is hoping there will pent-up demand for the Model Y, almost four years after Musk first began touting the company's plans to make an SUV.

The event was streamed live online, which meant that we all got to have a front row seat to Elon Musk's dumb sex jokes that were sprinkled among a retrospective on each Tesla model to date.

  • Zachary Reyes