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Tesla to unveil Model Y

Video Credit: Reuters Studio - Duration: 01:11s - Published < > Embed
Tesla to unveil Model Y

Tesla to unveil Model Y

Tesla will unveil its Model Y crossover on March 14 in Los Angeles, CEO Elon Musk tweeted on Sunday.

Fred Katayama reports.

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Tesla to unveil Model Y

Tesla will soon give the world a glimpse of its next vehicle.

CEO Elon Musk tweeted that his electric car company will reveal a new compact sport utility, the Model Y, on March 14th.

It would be the fifth vehicle design in the company's lineup, and its second suv.

Musk was skimpy on details, but said the Model Y is about 10 percent larger than the company's mass market sedan, the Model 3, and will cost about 10 percent more.

It'll feature the same battery but have less range.

Musk has for years talked up plans for a crossover vehicle that's smaller than Tesla's current Model X SUV.

The new car, he said, will have 'normal' doors rather than the sometimes troublsome 'falconwing' type used on the Model X.

Musk's tweets didn't rev up investors.

Tesla's shares fell more than 2 percent Tuesday morning.

Those shares are down more than 13 percent this year.

Musk is pushing to produce the Model Y even as it struggles to produce the Model 3.

Tesla's plant in Shanghai, China aims to make both cars.

The tease about the Model Y comes just one week after Tesla announced it's cutting the price of the Model 3 to $35,000 and will sell vehicles online only.



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