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Tesla Model Y is the company’s next offering, and some progress in its delivery timeline was confirmed recently. Tesla announced that the upcoming vehicle is about to enter production in line with its target release date in 2020, making it likely available around the same time as well.
Tesla Model Y release date in 2020 looking more likely
The company held is Q2 2019 earnings call with several investors on Wednesday. In his opening remarks, CEO and co-founder Elon Musk assured them that the preparations for the Tesla Model Y production are underway.
Musk also announced that the production of Tesla Model Y would mostly take place in their Fremont, California factory. The good thing about making this vehicle, Musk explained, is that it has several components similar to the Model 3. So preparing the factories for the Model Y is relatively easier. The company also expects the Model Y to have “approximately the same” production cost as the Model 3 despite the upcoming vehicle’s added features.
The production details confirmed earlier this week suggests that Tesla is going to maintain its earlier announced delivery timeline for Tesla Model Y. Deliveries in North America should start in later 2020 and early 2021 for China and Europe.
Tesla Model Y specs, features, pricing: What to expect
Since the Tesla Model Y was announced, it has been compared with the Model 3 with some automobile enthusiasts claiming that it does not differ that much from the latter. While it is true that Tesla Model Y is practically built based on Model 3, the former has some distinct upgrades in terms of design and specs.
For one, instead of an executive sedan, the Tesla Model Y is classified as a crossover between a sedan and an SUV. It is designed to accommodate up to seven adult passengers plus enough space for cargo, and that size upgrade is one of the vehicle’s selling points.
At the moment, interested customers can only choose among Long Range rear-wheel drive, Long Range and Performance dual-motor AWD. Standard range production is not set until 2021. Orders for Tesla Model Y is now accepted with an initial cashout fee of $2,500 while the total cost per unit starts at $48,000. The rest of the payment will be collected upon delivery of the vehicle.
