Tesla Model Y Reveal: updates on the much-anticipated Electric mini SUV

Daniel Fowler
March 16, 2019

Thursday's reveal comes amid a turbulent time for Tesla, as it attempts to make good on its promise of providing a cheaper Model 3 and Musk battles with federal regulators.

"As a result of keeping significantly more stores open, Tesla will need to raise vehicle prices by about 3 percent on average worldwide", a company's statement said. The launch of the new vehicle has surprised quite a few, as Musk had been guiding the launch in another 6 months.

Messages were left Monday seeking comment from a Tesla spokesman. In addition, The Daily Mail reported that angry owners had reached out to the company after purchasing Autopilot software for $5000, soon before the prices were discounted. Tesla paid for the purchase with about 50,000 previously authorized shares.

"This contempt action, following Musk's sincerely-held criticism of the SEC on 60 Minutes, also reflects concerning and unprecedented overreach on the part of the SEC", the filing said. The SEC said Musk's February 19 tweet was inaccurate, and that he didn't search nor obtain pre-approval previous to publishing.

Tesla claims this combination of higher peak power with V3, dedicated vehicle power allocation across Supercharger sites and a new feature called On-Route Battery Warmup (the auto will intelligently heat the battery to ensure you arrive at the optimal temperature to charge) will enable customers to charge in half the time-around 15 minutes in most instances.

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The settlement between Musk, Tesla and the SEC resolved an SEC lawsuit over claims Musk made on Twitter in August that he had "funding secured" to take Tesla private at US$420 per share.

Because time is money, too, and EV owners don't want to waste it charging their auto, Tesla recently unveiled V3 Supercharging, the next step in the growth of its Supercharger network.

In October 2016, Elon Musk said a Tesla vehicle would be able to drive itself across the country by the end of 2017.

If recent moves from Tesla have taught us anything, it's that the auto manufacturer likes to initially start construction of range-topping variants before making more affordable alternatives available - and we have no reason to believe they will change their practice with the Model Y. As a result, initial dual-motor versions should cost a touch over $50,000, although it's still unknown what form the entry-level SUV will take, as it seems unlikely Tesla will sell the vehicle in single-motor, rear-wheel drive guise like the $35,000 Model 3. The company could think about the profitability in Q2.According to the company, the Model 3 base model will feature a top speed of 130 miles per hour and can speed up from 0 to 60 miles per hour in just 5.6 seconds.

The move made no sense to begin with because Tesla had spent millions fighting in courts and state legislatures trying to change laws that prevented companies from selling vehicles at their own stores, Ramsey said.

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