Telsa Model Y SUV reveals

Tesla founder, Elon Musk, unveils the new Tesla Model Y

The new Model Y, is the next electric SUV starting at $39,000

By: Quynh Nguyen

On March 14, 2019 in Hawthorne, California, Founder of Tesla Inc. Elon Musk, revealed the new compact sport-utility vehicle called the Model Y which is said to be starting at the price of $39,000 to which with its sleek, modern and technical design is said to be more appealing to the audience of the electric car buyers.

The Model Y SUV is said to start production in 2020, with ranges of up to 300 miles on a single charge, and will be able to go from zero to 60 miles per hour in as fast as 3.5 seconds. Mr. Musk stated that the new crossover vehicle will be 10% bigger than model 3. Mr. Musk plans to deliver the Model Y in 2020 starting at $47,000, with a more powerful version costing upwards of $60,000 . The $39,000 version will be expected in the spring of 2021 with a range of 230 miles and a zero to 60 seconds speed in 5.9 seconds.

Mr. Musk said that it will have the function of the SUV but will ride like a sports car. It is predicted that the sales of Model Y, will exceed those of the current Tesla models combined as it is to reach out to more mainstream buyers because the market for SUVs is one of the fastest growing vehicle segments in the U.S. and China, as government incentives are pushing auto makers to offer more electric vehicles. 

The interior of the Model Y is similar to Model 3, with a large flat screen in the middle. The model Y also has a panoramic glass roof like the sedan but also includes a hatchback. The seating is also higher in the Model Y then the Model 3. The twist of the Model Y would be that the five-seater can be upgraded to accommodate two more seats to which is the same amount of seating as the bigger Model X SUV which is starting at $88,000. The seat option will be available in 2021 for an addition $3,000.

In regards to Model Y, the company has already began taking orders online following the event, to which the company is asking for the $2,500 refundable deposit, to which could help boast Tesla funds. Mr. Musk goals to start low production volumes next year will most likely catch the attention on the Silicon Valley company's ability to pay for the big projects. Mr. Musk also stated that he did not want Tesla to issues new debt or shares, even though the company borrowed $521 million from Chinese lenders to pay for a factory to create production for the local market in China. 

Elon Musk goals to reduce debts and the amount of shares is yet to be achieve as he has yet to show that he can produce a car for the masses and consistently turn a profit. The company had missed many deadlines to reach production goals for the Model 3 and since have been struggling with servicing all additional vehicles and had now reduced the price to $35,000. Tesla could be looking at at 50% greater sales for the Model Y than the annual deliveries of the Model 3.

https://www.wsj.com/articles/musk-unveils-model-y-suv-in-next-big-wager-11552622875

Published on March 15, 2019 2:24 a.m.