Tesla is probably the most popular electric car manufacturer around and for good reason. They make some pretty fantastic looking and performing electric vehicles. From the Model S to the Model 3 the company is doing fairly well in the public eye. Now, Elon Musk has announced the Tesla Model Y crossover will be revealed March 14th.
The Tesla Model Y has been teased and rumored since 2015 and the company says high volume production should start in 2020. The company says the tooling process will begin soon and the crossover is expected to be built in its
Model Y unveil event on March 14 at LA Design Studio— Elon Musk (@elonmusk) March 3, 2019
The Tesla Model Y will share 75% of its components with the Tesla Model 3, which the company says will lower production costs. The Model 3 has just become available for purchase at Musk’s promised US$35K price which made many buyers very happy.
Tesla said that to achieve this lower price it will shift all sales globally to online only, meaning the company will be closing many of its stores over the next few months. The stores that remain, in high-traffic locations, will be turned into information centers, Musk said on a call with reporters. There will be some layoffs as a result. Musk later said they would be hiring more service technicians.
“Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected,” the company wrote in a post.
Tesla has high hopes for the Model 3, and they believe it will spur the company into profitability which in turn will stimulate vehicles like the Tesla Model Y. The company has struggled financially and internally over the past few years. They’ve also been facing some scrutiny over the safety of its Auto Pilot system. But none of that seems to have hurt its public image nor the confidence consumers have in its vehicles.