Tesla has been talking about its Model Y electric SUV for quite some time now. It has been teasing the vehicle since 2015 by providing bits and pieces of information, but never the full picture. We’re still far from that but the company has revealed that it will begin volume production of this vehicle by the end of 2020.
Tesla revealed in a letter to shareholders that it will begin volume production of the Model Y electric SUV by the end of next year. That’s good, but it would be better if Tesla would just show off the vehicle now. It hasn’t even given a glimpse of a prototype, let alone the one that will be mass produced.
The company will begin tooling its production facility for the Model Y this year. CEO Elon Musk said that the vehicle will most likely be manufactured at the company’s gigantic gigafactory in Nevada. He predicted that the sales volume for this vehicle may be higher than the Model 3.
Tesla expects that the cost of producing this vehicle should be lower than that of the Model 3 as the two vehicles share the same platform and that it shares 75 percent of its components with the Model 3. This will also enable the company to quickly ramp up production for the Model Y.