Tesla to unveil Model Y SUV as electric vehicle competition heats up

Tesla Model Y starts at $47K in late 2020

Tesla Reveals Model Y ‘Baby SUV’ Tonight: How To Watch Live

The increased commonality should make the Model Y easier to integrate into current assembly processes and make it somewhat less expensive to produce.

China's General Administration of Customs stopped clearing Tesla Model 3 imports last week, saying they did not have the required Chinese language warning signs and had missing or incorrect nameplate labels.

Let's take a look at the few specs available so far.

Tesla Model Y joins the company lineup that now consists of the Model 3, Model S and Model X in the passenger vehicle range along with the second generation Tesla Roadster and Tesla Semi.

Based on the Model 3 platform, the Model Y is a cheaper, scaled-down version of the Tesla Model X SUV.

Tesla CEO and founder Elon Musk has finally added form and the shape of a new model to complete his promised electric vehicle acronym S3XY, with the launch of the all-electric, hopefully mass-market Model Y SUV.

Model Y from the rear. The Model Y has 66 cu ft of cargo space.

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Still, the Model Y, like all Tesla models, has already seen pre-production delays.

Musk at the event tonight, admiring the new Model Y.

Some versions will have up to 300 miles of range - which will equate to roughly 480km here in Australia.

The Model Y could accelerate from 0-60 in 3.5 seconds. The SUV will join the Model 3, Model S, and Model X in Tesla's range of consumer passenger vehicles as well as the impending second-generation Tesla Roadster and Tesla Semi.

Shares of Tesla are down 24 percent from a year high of $379.57 in August, when Musk tweeted that he was taking Tesla private.

Based on the success of the Model 3 and the growing popularity of SUVs (which held over 40 per cent of the Australian market at 2018's end according to industry expert V-Facts), it is thought that the Tesla Model Y could sell as many as double that of the Model 3.

Musk announced that pre-orders for the vehicle are open right now. So, it's a good idea to remember that if you happen to be one of the folks plunking down deposits for the first Model Y crossovers, it might be late showing up in your garage.

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