Tesla’s Latest Baby: Elon Musk Confirms Model Y’s Unveiling On 14 March; 10 Per Cent Costlier Than Model 3

The American electric vehicle manufacturer Tesla will unveil its next car - dubbed Model Y - on 14 March in Los Angeles, as per reports. The newest electric car of the company will be fifth such offering after Roadster, Model S, Model X and Model 3.

Tesla’s chief executive officer Elon Musk on Monday (4 March) announced that the unveiling of the car will be done on 14 March at the Los Angeles Design Studio of the company.

According to a Verge report, the Tesla Model Y is a crossover sports utility vehicle (SUV) that will share 75 per cent of its parts with the Model 3, which is currently Tesla's cheapest car.

The Model Y will be 10 per cent bigger than the Model 3, with slightly less range for the same battery. It will cost around 10 per cent more than the Model 3.

According to Musk, more details on specs and pricing will be revealed at the event where Tesla will offer test rides of the Model Y.

Tesla will reportedly build the Model Y at the company’s Gigafactory outside Reno, Nevada, and the vehicle is supposed to enter volume production by 2020. Tesla also eventually plans to make Model Ys at the Gigafactory it’s building in Shanghai, China.

However, the Model Ys manufactured in China will be affordable versions while the higher cost ones will be built in US.