Elon Musk just announced the new Tesla Model Y

This is the Tesla Model Y, the new compact SUV from the electric car manufacturer that will go on sale in 2020. The long-range version will travel 300 miles on a single charge, and will sell for $ 47,000, while the $ 60,000 performance version will be able to run 0 to 60 mph in 3.5 seconds. It's Elon Musk's fifth car to hit the road, and the company's second attempt at a mass-market electric vehicle.

"It has the functionality of an SUV, but it will be handled like a sports car," Musk said. "So this thing will be very closed in the corners."

The long-range Model Y of $ 47,000 will arrive first in the fall of 2020 and will have a range of 300 miles, Musk said. Tesla will also sell a double-engine version with all-wheel drive for $ 51,000 and a performance version for $ 60,000, both also available in the fall of 2020. The most economical standard version with a range of 230 miles will not be available until 2021, Musk said, and it will sell for $ 39,000.

elon musk just announced the new tesla model y

Sean O'Kane

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More spacious than a Model 3 but not as imposing as a Model X, the Model Y can accommodate seven, as demonstrated during the Thursday night event in the studio design of Tesla on the outskirts of Los Angeles.

Musk said he anticipates 5-star ratings and high safety marks across the board. "This will be the safest mid-size SUV so far," he boasted. (Model 3 recently lost its coveted "recommended" from Consumer Reports for reliability issues.)

The interior of the vehicle will look similar to Model 3, but even more so. A brief look at the interior design revealed the same rigid appearance, with a 15-inch touch screen placed on an otherwise empty instrument panel. Model Y will have a panoramic sunroof and 66 cubic feet of cargo space. However, a third row of seats for a total of seven passengers will not be available until 2021.

"The good thing is that it is" complete, "said Musk, after marking some of the self-management features of the Model Y in the future. "Basically, you can do anything with the software updates."

The Model Y was revealed at a crucial time for Tesla.In its first full year of production, the Model 3 sedan became the EV The most sold in the world in 2018, and that's only in North America, but Tesla's effort to make many Model 3 almost kill the company, according to Musk, and there have been speculations that Tesla may have exhausted the car's demand. In the US, reason why the company turned its attention to Europe and China, even there, the first sales of Model 3 have been slow.

Tesla recently introduced the Model 3 "standard range" of $ 35,000 as a way to reach more customers, but the launch was overshadowed by the company's decision to close most of its stores and switch to online sales to reduce operations. costs The measure also allowed Tesla to lower the prices of its other cars, but after a violent reaction from customers, employees and even the owners, Tesla decided to stop the closing of the stores (which, in turn , forced the company to raise prices again).

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Because Model Y has much in common with Model 3, in theory it should be a minor drain on the company's resources. It also represents a great opportunity for growth, since SUV sales are skyrocketing in the United States.

Tesla will have to execute well to take advantage of that opportunity, according to Jessica Caldwell, executive director of industry analysis at Edmunds. Competition in the SUV space is fierce, and essentially all German automakers are already sending (or about to send) their own electric SUVs.

"If Tesla really wants to be a trademark, he will have to figure out how to sell cars to people as well as young men in California," Caldwell said in a statement. "Tesla has the right foundation for the Model Y to be a turning point: Tesla has the youngest buyer base of any luxury brand, and Model X has more female buyers than any other vehicle in the brand line. If the Model Y has a correct price, offers a spacious interior and offers impeccable safety and quality, it has the potential to be the "for" vehicle for young families. "

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