Elon Musk reveals Tesla Model Y crossover; to start at US$39000

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Musk unveiled the Model Y at a short 40-minute event at Tesla's design studio in Hawthorne, outside Los Angeles, that was streamed live online.

The LR can go from 0-60 mph in 5.5 seconds, has a top speed of 130 mph, an effective range of 300 miles, and will start at $47,000.

As to the technical data and prices of the Model Y; According to Tesla, the basic version "Standard Range" will cost 39,000 United States dollars (net price).

The vehicle will also have a dual-motor all-wheel drive version and an available performance package, both at additional cost. Top speed is 209 km/h, and Musk also assures that it "ride [s] like a sports auto... really tight in corners". The Model Y Standard Range is expected to ship in 2021.Tesla is taking reservations and requesting a refundable $2,500 reservation fee, up from the Model 3's $1,000 fee.

The Model Y is priced at $39k, for the standard range variant, and goes up to $75k for the 7-seater AWD Performance variant with Full Self-Driving capability. With about the same parking footprint-perhaps a few inches longer, as Tesla can't yet confirm the final dimensions-the Model Y offers what we noted to be a relatively roomy interior, with a slightly higher seating height and plenty of headroom.

Clearly Tesla has learned a lot about building cars in the interim, but the Model Y is the automotive equivalent of the iPhone, and public pining ignores some solid alternatives that are due to appear this year. One thing that struck us about the Model-Y is how Tesla is still influenced by Porsche's aesthetics.

Production of the Model 3 quickly fell behind schedule as Tesla struggled to come up with adequate manufacturing capacity and it took much longer than anticipated to lower the sedan's starting price to the $35,000 level that Musk had been promoting.

"2018 felt like aging five years in one", Musk said.

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On Tesla.com, you can already build and order a Long Range Model Y, with $2,500 down, today-which is one of the key differences versus Model 3, where the $1,000 merely secured a spot to be able to build a auto later.

But like many modern EVs, the new crossover promises some driving excitement too, with top models capable of sprinting from zero to 60mph (96km/h) in just 3.5 seconds, according to Tesla.

This set-up should help the Model Y make it into production quicker and cost less to develop.

Model Y from the rear.

The announcement comes at a time when the company is facing financial pressure and there have been reports of 'demand problem'.

This announcement is also part of the company's longer-term plans to bring affordable and cutting-edge electric vehicles to a wider consumer base on a global scale and follows on from the announcement of the affordable Model 3.

He revealed that last night, Tesla had prevented its 4 millionth metric ton of carbon emissions thanks to their electric vehicles and Musk said that it was his belief that Tesla will have produced 1 million cars by March of next year. "Now we've made about 550,000 cars".