The increased commonality should make the Model Y easier to integrate into current assembly processes and make it somewhat less expensive to produce. "Inside the vehicle, the Model Y is all Model 3, with the dashboard being dominated by the same 15" touchscreen, which controls the majority of the vehicle's functions. It's worth noting, though, that the entry-level model won't be available until 2021 as Tesla will look to manufacture the more margin-friendly models first, a strategy the company undertook with the Model 3.
The Model Y is expected to be the most popular vehicle that Tesla has produced yet.
One question has been, would Tesla introduce a base version Model Y to match its recently released $US35,000 Model 3 ($A49,800 at today's rates) from the get go, rather than starting the premium Long Range and Performance versions as has been its modus operandi for the Model 3.
Elon Musk, Chief Executive of Tesla has plans of selling more examples of Model Y as compared to Model 3 and Model S combined.
The Model Y can be ordered here and requires a $2,5000 deposit. So despite Elon tweeting the Model Y would have them, yeah, no.
Tesla unveils new Model Y compact SUV set to release in fall 2020
Still, the company expects the Model Y to do well. The Model Y will enter the fray at a time when crossovers are an incredibly hot segment of the entire global automotive market, and US demand for the Model 3 compact sedan is starting to taper off.
Teased image of Model Y from Tesla Photo: Tesla Inc.
The California-based company only started delivering Model 3 cars to China at the end of February, a key market where it has been trying to revive its sales which have been hit hard by Sino-U.S. trade tensions. The long-range 300-mile range version will be available for $47,000 fall 2020.
"Twelve months from now we will have made about 1 million vehicles", Musk said at the event, without specifying the breakdown of models.
Musk has promised an easier production ramp of the Model Y, since it shares about three-quarters of its parts with the Model 3 and would need only half the capital expenditures of the sedan. Two weeks later it chose to keep more stores open than anticipated (and bump up prices), as well as announce the new V3 Supercharger.
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