Elon Musk set to unveil Tesla's latest passenger vehicle tonight in Los Angeles
15 March, 2019, 06:53
The company broke ground on the Shanghai factory in January and its CEO Elon Musk has said the firm aims to finish initial construction this summer and start production of the Model 3 towards the end of the year.
Tesla will ultimately offer the Model Y in four configurations. The base version, which will be slower and have a shorter range, will come in at $39,000, with an availability of 2021. The Model Y will enter the fray at a time when crossovers are an incredibly hot segment of the entire global automotive market, and USA demand for the Model 3 compact sedan is starting to taper off. If it wasn't for that legal threat, Tesla's lineup would have included the Model S, Model E, Model X and Model Y - i.e., SEXY.
Musk said more detailed specs and pricing will be available at the Thursday reveal event. The faster charging speed will also allow Supercharger V3 locations to accommodate more vehicles per hour; a capability that will be beneficial to Model Y owners considering the estimated demand for the all-electric SUV. "Inside the vehicle, the Model Y is all Model 3, with the dashboard being dominated by the same 15" touchscreen, which controls the majority of the vehicle's functions. The heavier Model Y, however, will have less range because of its increased weight and size.
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.
Analysts said that with the Model Y, Tesla look to dig its claws into the profitable compact SUV segment, which grew by 12.6 percent to 3.5 million SUVs sold in 2018.
Teased image of Model Y from Tesla Photo: Tesla Inc.
Tesla's targeted volume production date of late 2020 would put it behind electric SUV offerings from Volkswagen AG's Audi, Daimler AG's Mercedes-Benz and BMW. It will share 75 percent of its components with the Model 3.
Oil prices edged higher on Wednesday, supported by planned cuts to Saudi exports and a reduced forecast for USA crude output. Petrol stocks fell by 5.8 million barrels, compared to analysts' forecasts in a 2.5 million barrel survey at Reuters .
He said the FAA has 'always been a very cooperative, data-driven group, and now that seems to have kind of gone to the wayside'. The BEA isn't saying how long it will take to analyse the recorders - which are actually orange, despite their nickname.
Israeli analysts speculated that Palestinian militants opposed to any deal between Hamas and Israel were behind the launchings. A Hamas official told the The Times of Israel that the terror group "has no interest in an escalation" with Israel.
Analyst Mark Kelley, in a note to clients, noted that customers were focusing on messaging and Facebook's stories format. Hong Kong's Hang Seng fell 0.5 percent to 28,776.10, while the Shanghai Composite dipped 0.8 percent at 3,035.15.
The actress will be booked and is expected to make an initial appearance Wednesday afternoon in federal court in Los Angeles. Coaches from Yale, Stanford, Wake Forest and Georgetown universities and USC , among others, are implicated in the case.
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