Published: Sun, March 17, 2019
Money | By Ethel Goodwin

Tesla share price down 5% after unveiling Model Y SUV

Tesla share price down 5% after unveiling Model Y SUV

Say hello to the Model Y - Tesla's newest all-electric, mid-size SUV.

Tesla Inc is Elon Musk's attempt to commercialize electric vehicles.

The numbers are similar with the Model Y, which starts at 120 mph for the Standard Range, then jumps to 130 mph for the Long Range, 135 mph for the Dual Motor AWD, and 150 mph for the Performance.

The Tesla Model Y will cost between $39,000-$60,000 and will be 10% bigger than the Model 3 sedan.

He was cracking himself up on the stage at the Tesla design center in Hawthorne, Calif. Thursday night.

Standard equipment includes a panoramic glass roof.

There are two other models: a dual motor all-wheel drive version and a "High-Performance" version. It would sell for $39,000. More importantly, it gives us a good glimpse of what Tesla expects to have completed less than a year after its January 6 ground breaking event. Built from the ground up as an electric vehicle, the low centre of gravity, rigid body structure and large crumple zones provide unparalleled protection, the company added. However, while all other versions are due to go into production in late-2020, the cheapest Model Y will arrive later, sometime in earl-2021.

There is another performance version of Model Y in the line-up that would excite all those who want to extract the maximum power out of it. According to documents leaked by Business Insider, it should be August, but as the Model 3 and its shanty tent production line showed, Tesla is still only half way through the book on how to build a auto. Finally it was the Model Y's turn. Tesla struggled to churn out Model 3 vehicles as quickly as Musk promised investors, especially in the two quarters following the Model 3's production-line announcement. The similarities between the designs are intentional, because that commonality is expected to speed development - thus avoiding the "production hell" that marked the Model 3's birth.

Tesla debuted its latest creation, the Model Y, at an event in Los Angeles this week. We don't know for sure where Model Y will be built, besides Tesla's new, under-construction Chinese plant but it seems increasingly clear that it won't simply be cranked out in huge volumes next to the Model 3 at Fremont. With 75% parts shared in common with the Model 3, the Model Y should be much easier to make efficiently and affordably than its more adventurous predecessors. The top-selling Ford F-150 pickup truck sold almost three times as many vehicles as the best-selling sedan (the Toyota Camry). That did adjust the pricing, but still today Tesla is selling a $5,000 package that is mostly hope and dreams.

Press information noted that the Y "is also compatible with our current Supercharger network of more than 12,000 Superchargers in 36 countries, as well as our new V3 Superchargers which can charge at rates up to 1,000 miles per hour". Unfortunately, the Model-Y does not feature Tesla's trademark Falcon doors, as the system is too expensive and complex to integrate into a vehicle expected to increase the company's market share. The Model Y units which are destined for China are expected to be built at a Giga factory in Shanghai which is now under construction.

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