Tesla announced that its new Model Y crossover SUV will be unveiled at the company’s design studio in Los Angeles on March 14th. Tesla CEO Elon Musk made the announcement on Sunday. Founded in 2003, Model Y will be the fifth car of the company.
Elon Musk announced that the Model Y will be having 75 percent similar parts used in the Model 3 which is the most budgeted car of Tesla. The new electric car will be 10% larger, will cost 10% more than the Model 3 and it will have a marginal small range than the Model 3. The Model Y will not be having the Falcon Wing doors that are found in the Model X which is the bigger SUV, further details and prices will be revealed on March 14th at the launch event.
Model Y unveil event on March 14 at LA Design Studio
— Elon Musk (@elonmusk) March 3, 2019
The big announcement came just three days after the company announced the cheapest Model 3 which costs at $35,000 and that the company has moved to online sales only and closing many of its stores which will be leading to laying off a large number of employees.
