Elon Musk says Tesla Model Y will be revealed at its LA design studio on March 14

Tesla will
pull back the curtains and unveil its Model Y crossover vehicle at
an event in Los Angeles on March 14th, according
to a tweet
from chief executive Elon Musk.

Model Y unveil event on March 14 at LA
Design Studio

Elon Musk (@elonmusk)
March 3, 2019

It’s the fifth new car design to come from Tesla’s shop
since the company was founded in 2003. Musk has been teasing the
car’s release since 2015, and
in a January letter to shareholders
said that high volume
production would begin by the end of 2020.

Tesla said that it would begin tooling for the Model Y later
this year and that the company would be producing the vehicle at
its “gigafactory” in Nevada. In the same letter, Musk predicted
that the cost of the Model Y line would be substantially lower than
the Model 3 line in Fremont, Calif., because
it will share roughly 75% of the same components with the new
low-cost vehicle.

Tesla’s Model Y reveal
comes amid sweeping changes
that the automaker announced last
week in tandem with the commercial availability of its $35,000
low-cost Model 3.

Tesla said that to achieve this lower price it will shift all
sales globally to online only, meaning the company will be closing
many of its stores over the next few months. The stores that
remain, in high-traffic locations, will be turned into information
centers, Musk said on a call with reporters. There will be some
layoffs as a result. Musk later said they would be hiring more
service technicians.

“Shifting all sales online, combined with other ongoing cost
efficiencies, will enable us to lower all vehicle prices by about
6% on average, allowing us to achieve the $35,000 Model 3 price
point earlier than we expected,” the company wrote in a post.

Tesla’s management expects that all of these changes should
result in better results for the company. “Model 3 will become a
global product, the profitability of our business should become
sustainably positive, our new Gigafactory Shanghai should start
producing cars, and we will start tooling for Model Y
production,” the January shareholder read.

If the Model Y were to finally go into production, it could mean
a phase out of older Tesla models, although that’s not a

Tesla also has two other models that are waiting in the wings
— the Roadster and the Tesla Semi, which are both under

As the Verge noted
, Musk joked about unveiling the new Model Y
on March 15th “because
the Ides of March sounded good

Source: FS – All Tech News 2
Elon Musk says Tesla Model Y will be revealed at its LA design studio on March 14