Tesla Model Y debuts in California with $39,000 base price

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

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

A side look at the Model Y.

The Model Y can be ordered here and requires a $2,5000 deposit.

Teased image of Model Y from Tesla Photo: Tesla Inc.

Tesla Inc will unveil its Model Y electric sports utility vehicle on Thursday evening in California, promising a much-awaited crossover that will face competition from European auto makers rolling out their own electric rivals.

Tesla would "most likely" build the Model Y at Tesla's battery factory in Nevada, he said. As the name implies, this variant will focus on maximizing range and be able to cover 300 miles (482 km) on a single charge. The 230-mile, standard version will cost $37,000 and go into production in Spring 2021, according to Musk. All up, the cabin offers 66 cubic feet of storage space.

The vehicle will also have the option of a dual-motor all wheel drive option and a performance option, at an additional cost. Deliveries are set to start from fall of 2020, the new Model Y will boast of a 450 km range and 240 kmph top speed. The Model Y wasn't hiding a truck, the Model S and X aren't refreshed, and at the end of the event, it was just the Model Y.

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

As soon as Musk's speech wrapped up, the Model Y was listed on the official Tesla website.

Musk plans to unveil the vehicle and offer pricing and other details at a small event at Tesla's design studio in Hawthorne, outside Los Angeles, and it will stream it online starting at 8 p.m. PT (11 p.m. ET). "There was a time when electric cars seemed very stupid and it wasn't that long ago", Musk told the audience.

The CEO predicted that in 12 months, the company will hit 1 million cars shipped.

CEO and founder Elon Musk believes that demand for the Model Y could outstrip the Model 3, which has proven itself by a very long yard the most popular EV of 2018 and became the USA's best-seller in its segment late past year. "2018 felt like aging 5 years in one. thank you for supporting Tesla through this hard period", the CEO joked.

In October, Musk said "significant progress" had been made on the Model Y and that he had approved the prototype for production in 2020. It gains large headlamps and short front overhangs while design elements to the rear are similar to that seen on the Model X with tail lamp units similar to those seen on the Model 3.

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