Tesla Model Y is here and it will be quite a row in the automobile industry. It was revealed a couple of days ago and the big news now is the realisation of the fact that the new electric Tesla SUV is quicker than a Lamborghini. Well, sort of. While Huracan does 0-100 km/h in 3.6 seconds, the Model Y will do it in 3.5. Well, clearly the days of SUVs being sluggish are well behind us with the likes of Jeep Cherokee Trailhawk SRT capable of leaving sports cars in its dust.
Chief Executive Elon Musk said the compact SUV, built on the same platform as the Model 3, would first debut in a long-range version with a range of 300 miles (482 km) priced at $47,000. A standard version, to be available sometime in 2021, would cost $39,000, with a 230-mile range. The vehicles can be configured to include 7 seats for an additional $3,000.
Ordering the car requires a $2,500 refundable deposit. Small SUVs are the fastest-growing segment in the United States and China, the world's largest auto market, where Tesla is building a factory, making the Model Y well positioned to tap demand. Tesla has enjoyed little competition thus far for its sedans, but competition for electric SUVs is heating up as Tesla tries to master a new set of economics from the luxury line that made its reputation.
Tesla's targeted volume production date of late 2020 for the Model Y would put it behind electric SUV offerings from Volkswagen AG's Audi, Daimler AG's Mercedes-Benz and BMW. "Twelve months from now we will have made about 1 million vehicles," Musk said at the launch event of Model Y, without specifying the breakdown of models.
Shares of Tesla are down 24 percent from an August high of $379.57 when Musk tweeted that he was taking Tesla private. 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.