If you're hoping to score the cheapest Model Y, you'll have to wait until the spring of 2021; the other three variants will be available sooner.
In the lead up to the unveiling, Musk said that due to the increased amount of materials needed for the Model Y's SUV body, both weight and price would be approximately 10 per cent more than the Model 3.
Let's take a look at the few specs available so far.
The company broke ground on the Shanghai factory in January and its CEO Elon Musk has said the firm aims to finish initial construction this summer and start production of the Model 3 towards the end of the year.
The Tesla Model Y is here, and it is everything that we wanted it to be, plus a little bit more.
Tesla CEO and founder Elon Musk has finally added form and the shape of a new model to complete his promised electric vehicle acronym S3XY, with the launch of the all-electric, hopefully mass-market Model Y SUV. Remember, Tesla with the Model 3 claimed that it learned a tremendous amount from the production issues that plagued the Model S and Model X, only to find out that Tesla went off and created brand new production problems with the Model 3 by relying too heavily upon automation.
Model Y from the rear.
Small SUVs are the fastest-growing segment in the United States and China, the world's largest auto market, where Tesla is building a factory, making the Model Y well positioned to tap demand. The Model Y has 66 cu ft of cargo space.
Tesla, per usual, loves boasting about acceleration and the Model Y certainly is no slouch. Test rides of the Model Y are also in store.
Tesla says that the Model Y will be about 10 percent larger than the Model 3 as well, and we'll guestimate around a 10 percent hit to efficiency. The latter will be capable of 0-60mph in 3.5 seconds, have a 150mph top speed and 280 miles of range, and will cost $60,000 around (£45,000). It will share 75 percent of its components with the Model 3. Two weeks later it chose to keep more stores open than anticipated (and bump up prices), as well as announce the new V3 Supercharger.