And some people thought he'd reveal it last March 2. Tesla CEO Elon Muck finally ended years of speculation by announcing the Tesla Model Y -- which will be a crossover SUV -- will get its big reveal on March 14.
Model Y will be Tesla's fifth vehicle since the company was founded in 2003. Musk also said Tesla will unveil its intriguing electric pickup truck "later this year."
Risking the renewed wrath of the U.S. Securities and Exchange Commission (SEC), Musk dared to reveal the Model Y in a series of tweets today. His first tweet read: "Model Y unveil event on March 14 at LA Design Studio."
He followed that up with, "Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more & have slightly less range for the same battery."
And then with, "Detailed specs & pricing will be provided, as well as test rides in Y."
Now, apart from eagerly awaiting the market's reaction to this long-awaited announcement, Musk must also be antsy about how the SEC sees these tweets, which Muck obviously didn't clear with the regulatory agency. It was only over the weekend the SEC took Musk to court for the second time for again violating its policies.
Analysts say the Model Y will share 75 percent of its parts with the Model 3, the most affordable electric car in Tesla's stable. The Model Y won't have the "Falcon Wing" doors that are found on Tesla's larger SUV, the Model X.
Tesla will build the Model Y at Tesla's Gigafactory outside Reno, Nevada. The Model Y will enter volume production by 2020 at the earliest. Tesla also has plans to manufacture the Model Y at the Gigafactory now being built in Shanghai, China.
More specs and more important, pricing, will be revealed at the March 14 event, said Musk. He also said Tesla will offer test rides using the Model Y.
Tesla has only revealed one teaser image of the Model Y: a glitzy black-and-white silhouette. In 2015, Musk revealed the name of the Model Y and launched speculation as to whether the Model Y will be built on the same platform as the Model X. Sources said Tesla decided on the final design in late 2018.
