Published: Fri, March 15, 2019
Markets | By Otis Pena

Seven-seat Tesla Model Y revealed with 300-mile range

Seven-seat Tesla Model Y revealed with 300-mile range

The long range version will be priced at $US47,000, the Dual Motor AWD at $US51,000 and the Performance version will be $US60,000 ($A66,300, $A72,000 and $A84,600 at today's rates respectively). The vehicles can be configured to include 7 seats for an additional $3,000.

Viewed from the rear, the Tesla Model Y has a similar profile to the larger Model X but has taillights more akin to those of the Model 3.

At tonight's live stream he reconfirmed this expectation: "I think we will sell more Model Y's than S, X and 3 combined", Musk said. Thanks to a pair of powerful electric motors, this model will have a 280 mile (450 km) range, a 150 miles per hour (241 km/h) top speed and accelerate to 60 miles per hour in a blistering 3.5 seconds. The starting Model Y base price is $39,000 for about 230 miles of range.

The Model Y can be ordered here and requires a $2,5000 deposit.

Tesla will tonight unveil its attempt to break into the fast-growing "crossover" vehicle segment, revealing the highly anticipated Model Y.

Shares of Tesla are down 24 percent from a year high of $379.57 in August, when Musk tweeted that he was taking Tesla private.

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That plan - later scrapped - ushered in a period of turmoil at the company, from Musk's public battles with regulators, a flurry of securities lawsuits, cost cutting and layoffs.

Parts commonality between the two is roughly 86 percent.

Tesla Model Y joins the company lineup that now consists of the Model 3, Model S and Model X in the passenger vehicle range along with the second generation Tesla Roadster and Tesla Semi.

The risk is "quite low" Musk told analysts in January. The Model Y gives Tesla the opportunity to tap into that growing market.

The Model Y is unveiled at last.

Still, the company expects the Model Y to do well. Suppliers were originally told production would start in November 2019, sources told Reuters past year. The Model Y will be offered in four configurations along with a Standard Range Model set to arrive later, by Spring of 2021 prior to which three different variants will be on offer from Fall of 2020. In January, he said Tesla had ordered the tooling needed to build the auto.

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