Tesla Model Y SUV to be built in Shanghai, China

Tesla Model Y SUV to be built in Shanghai, China

Model X may have been too unique, but Model Y threatens to shift over to the opposite end of the spectrum, to a space inhabited by the worst examples of "brand engineering" and barely-distinguishable variants.

Really, this was Musk's thinking.

But now that Tesla has shown some stability in Model 3 production numbers, the Model Y will give the company a new challenge. Most people have no idea you can now get a Tesla for $35,000.

That much is clear even in the abbreviated version of Tesla's narrative mythology that Elon Musk recounted at last night's Model Y reveal, which couldn't gloss over manufacturing problems that have plagued every single one of its cars. We'll keep you updated on the latest. Instead, he built up the suspense by giving an "extended history lesson" about Tesla's decade-long history of vehicle production, starting with the Tesla Roadster and moving on to the Model S, Model X, Model 3, the Semi truck and the remade Roadster.

Tesla's stock is undergoing more volatility as the carmaker's latest vehicle is revealed.

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But it's the Model Y's pricing that has Ives and many Tesla supporters excited. Based on the budget Model 3 sedan, think of it as the 3's crossover sibling specific to a popular niche - similar to what the new Mazda CX-30 is to the Mazda 3, but electric, of course.

The more affordable version with a standard range of 230 miles (370 km range) and 120 miles top speed (193 km/h ) can accelerate from 0 to 60 in 5.9 seconds will start at $39,000 in spring 2021, most likely significantly later than that. However, BAML also notes that the Audi e-tron, BMW iNEXT, and Mercedes-Benz EQ will be direct competitors and in the market before Tesla. A third, even more expensive version will be a performance Model Y that will sell for US$60,000.

Tesla said that it will fit the Model Y with 12 ultrasonic sensors and a 525-foot forward radar system that team to power what Musk called "feature-complete" self-driving auto tech.

- The $48,200 Model Y Long Range has a 300-mile range, rear-wheel drive, and can hit 60 miles per hour from a stop in 5.5 seconds. According to Tesla, the Model Y will ship with numerous bells and whistles you can find in its other vehicles, including its semi-autonomous driving system Autopilot and a panoramic glass roof. Look for the Performance trim to launch in the fall of 2020. At this time, Tesla will also release the $51,000 all-wheel drive dual-motor Model Y and a $60,000 performance Model Y. The cheapest Model Y variant (the standard version), which will cost $39,000, won't be buyable until 2021. It'll sticker for $52,200.

The Model Y will feature the same headline technology available across the rest of the Tesla range. It'll sticker for $40,200 including destination and delivery charges. We believe investors will leave the Model Y launch with a neutral to negative outlook on the Tesla story for multiple reasons ... I was crammed into the middle row between a skinny guy on my left and a larger gentleman on my right. The Models S and X share just 30 percent of their parts.

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