Elon Musk Argues Regulators Overstepped in Tweet Contempt Quest

Tesla Chief Executive Office Elon Musk speaks at his company's factory in Fremont California US

Tesla is expected to unveil the Model Y on 14 March at the Los Angeles Design Studio at 8 pm PDT.

Teaser images suggest a slightly more sophisticated external design than that of the Model X, which is perhaps a little cumbersome, but a more upright stature than the entry-level Model 3. Evidently, common sense prevailed and Tesla chose to drastically cut down on development and production costs of the Model Y by using one of its existing platforms. "Was done so because come simply couldn't afford it. Prices revert to normal on Monday", CEO Elon Musk said in a Tweet - flexing his outstanding planning skills and unmatched business prowess - likely in response to the public's shift in perception to the company's products as less than aspirational status symbols.

Musk also said the Model Y "baby SUV" will use the same battery as the Model 3 but get less range because of its increased weight and size.

This year also saw Tesla break ground on a new factory in Shanghai, which is planned to house production of the Model Y after its initial production at the company's Reno, Nevada, factory. "Since Model Y will be built on the Model 3 platform and is created to share about 75% of its components with Model 3", Tesla explained in its fourth-quarter shareholder letter, "the cost of the Model Y production line should be substantially lower than the Model 3 line in Fremont, and the production ramp should also be faster".

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Tesla also very recently unveiled a new supercharger architecture meant to drastically improve charging speeds.

Tesla is still testing the updated charging station with select owners, and is breaking ground on the first public V3 Supercharger location next month. Expectation on the new model is high as SUVs are now the fastest-growing vehicle segment in the USA and China, Tesla's two largest markets. But its announcement also mentioned the Model Y, which shares the Model 3 platform.

For a few months possibly a meaningful saving will not happen for Tesla when it starts making the Model 3 vehicle in volume. Tesla says it will accelerate V3 Supercharger installation in "Q2 and Q3", so you might see one sooner than you think. The Model Y will most likely be a much more conventional electric SUV.

As part of Tesla's move to base the Model Y on the Model 3, the two vehicles will apparently share some 75 per cent of their components. He added that more detailed specs and pricing as well as test rides will be available at the reveal event on Thursday.

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