Elon Musk Just Unveiled Tesla’s New Model Y Compact SUV

Is the Tesla Model Y an SUV – and does it matter

Is the Tesla Model Y an SUV – and does it matter

Along the way, Musk explained the ins and outs of his naming convention, including the fact that he couldn't use the name "Model E" because Ford had it trademarked. The Standard model of the Model Y will offer the lower number. Really, this was Musk's thinking.

Tesla revealed the Model Y small crossover at its Southern California offices late Thursday night. And the assembled crowd of maybe one or two thousand admirers and Tesla owners (some of whom got their invitations after making loads of sales referrals) loved it.

Tonight in Los Angeles, Tesla CEO Elon Musk showed off a prototype version of the Model Y, the fourth mass-produced vehicle that the electric auto maker will bring to market.

"He was not the usual charismatic Elon Musk". Tesla CEO Elon Musk has made plenty of lofty promises about the potential of these cameras, ultrasonic sensors, radar, and specialized computer, but there's still much to be delivered on that front. Two weeks later it made a decision to keep more stores open than anticipated (and bump up prices), as well as announce the new V3 Supercharger.

Shares of Tesla Inc fell about 4 percent on Friday, as investors wondered if its unveiling of an electric sports utility vehicle would add to pressure on cash flow, while analysts anxious the carmaker was not addressing slowing demand for other models.

"Entering the SUV/crossover market effectively doubles Tesla's addressable market", Gene Munster, a managing partner of the venture capital firm Loup Ventures, wrote ahead of the event. But it comes with the same "Back to the Future"-like falcon doors featured on the larger, much more expensive Model X". Instead, he built up the suspense by giving an "extended history lesson" about Tesla's decade-long history of vehicle production, starting with the Tesla Roadster and moving on to the Model S, Model X, Model 3, the Semi truck and the remade Roadster. The Long Range can be upgraded to dual-motor all-wheel drive for $4,000 more. It'll sticker for $52,200.

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Tesla unveils new Model Y compact SUV set to release in fall 2020

The Tesla Model Y will be compatible with Tesla's gen-three Supercharger network, meaning speedy charging to keep you on the road. The $60,000 Performance model will be the most expensive variant, with a 280-mile range and a 150 miles per hour top speed.

The basic model is priced at $40,200 including a $1200 destination charge.

Attendee take photographs of the Tesla Inc.

Unveiling the new mid-sized SUV at a presentation, Musk said the new model will not only be built in the United States, but also in the massive new plant in Shanghai. He noted that none of us screamed during his mighty launch. Unlike the Model 3, the Model Y has a panoramic roof, which gives gorgeous driving views.

Obviously some of this is speculative, and if I've learned anything covering Tesla it's that you can never predict what they'll do when they have their backs to the wall.

Considering that the market is going nuts for crossovers, the Model Y is Tesla's smartest product-planning move so far. Musk said that the company got a bit carried away with the Model X, creating something like "a Faberge egg meets a space ship". Knocking a hundred grand off it's crossover lineup can only be seen as a smart move for Tesla.

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