The popular electric carmaker announced new Tesla Model Y. After lot’s of teasers car finally unveiled a few hours ago at Tesla’s design studio outside Los Angeles. The $47,000 long-range Model Y will come first in the fall of 2020 and will have a range of 300 miles, Musk Said. The performance version of Model Y is capable of sprinting from 0 to 60 mph in 3.5 seconds and is priced at $60,000. It’s Elon Musk’s fifth car ever to hit the road and the company’s second attempt at a mass-market electric vehicle.

“It has the functionality of an SUV, but it will ride like a sports car, So this thing will be really tight on corners.” Musk said.

Tesla will also sell an all-wheel-drive dual motor version for $51,000, and a performance version for $60,000 – both of which will also be available in fall 2020. The cheaper $39,000 priced standard range version with a range of 230 miles won’t be available until 2021, Musk said.

Roomier than a Model 3 but not as imposing as a Model X, the Model Y can seat seven, as demonstrated during the event.

Musk said he anticipates 5-star crash ratings and high safety marks across the board. “This will be the safest midsize SUV by far,” he boasted.

The Model Y will have a panoramic sunroof and 66 cubic feet of cargo space. A third row of seating to fit a total of seven passengers won’t be available until 2021, though. The interior of the vehicle will look similar to the Model 3, only more so. A brief glimpse of the interior design revealed the same stark look, with a 15-inch touchscreen perched on an otherwise vacant dashboard.

“The cool thing is, it’s feature complete!, It will be able to do basically anything just with software upgrades.” Musk said.

In its first full year of production, the Model 3 sedan became the best-selling EV in the world in 2018 — and that’s just in North America. But Tesla’s drive to make that many Model 3s nearly killed the company, according to Musk. Model Y is at a crucial time for Tesla. And there has been speculation that Tesla may have exhausted demand for the car in the US, which is why the company turned its attention to Europe and China. Even there, early sales of the Model 3 have been slow.

Because the Model Y shares so much in common with the Model 3, it should theoretically be less of a drain on the company’s resources. It also represents a huge growth opportunity, as SUV sales are through the roof in the US.

Tesla recently introduced the long-promised $35,000 “standard range” Model 3 as a way to reach more customers, but the release long-range by the company’s decision to close most of its stores and shift to online sales in order to cut operating costs. The move also allowed Tesla to lower prices on its other cars, but after backlash from customers, employees, and even landlords, Tesla decided to halt the store closings. Because of act company is is to raise prices again.


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