Here's where to watch Tesla's live announcement: the live stream will be available on Tesla's website, either directly on the main page, or through the Events & Presentations section on the Investor Relations page.
With a an undisclosed range and starting price of the $39,000, the Model Y buts up against offerings from Kia and Hyundai.
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 a year ago.
The Model Y is expected to be the most popular vehicle that Tesla has produced yet. 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. Those who follow Tesla may have been mildly surprised by this, as the solar roof in particular got a lot of attention a few years ago, but has been nearly completely overlooked lately.
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The Model Y is built to be fully compatible with the Supercharger V3 network, which supports charging at 250 kW.
Tesla says that the Model Y will be about 10 percent larger than the Model 3 as well, and we'll guestimate around a 10 percent hit to efficiency. The heavier Model Y, however, will have less range because of its increased weight and size. The Tesla Model Y is an SUV that seats seven passengers comfortably. Compact SUVs are the largest vehicle segment and is 50 percent larger than the next-largest segment.
Musk at the event tonight, admiring the new Model Y. The CEO also said that the Model Y should be coming off production lines in 2019.
It has a panoramic glass roof keeping it in common with the Model 3, adding to the feeling of space.
This set-up should help the Model Y make it into production quicker and cost less to develop. In January, he said Tesla had ordered the tooling needed to build the vehicle.