Tesla Model Y previewed for the first time, new medium crossover

Tesla Model Y tease

The electric-car maker's factory in Fremont, Calif., is "bursting at the seams" making Model S sedans, Model X crossovers and preparing for the upcoming Model 3 auto, CEO Elon Musk told shareholders Tuesday. Tesla initially planned to have the Model Y ride on the Model 3's platform, but Musk confirmed in the Q&A segment of the shareholder meeting that Model Y will be riding on a completely new platform. It's understood Tesla will adopt a "Russian doll" approach to its design, with the Y mirroring the X very closely - much like the Model 3 copies the Model S. Interestingly, however, the picture shows no door mirrors, hinting the Model Y might make use of a camera-based setup for the first time.

Tesla is set to begin production of the Model 3 next month, nearing the day when the first customers will be able to get behind the wheel. By comparison, on-road hybrids like Prius can only run on battery charge for small distances, while most affordable electric vehicles go 120-150 miles on a single charge. Unlike what it did with Model S and X, Tesla will release the simplest versions of the Model 3 first, before eventually offering more options.

When it comes to Tesla Inc., perception is reality, and fundamentals and profitability will be "largely ignored" until next year.

Tesla did however originally plan to do a similar thing with the Model X, as the auto maker preferred to go with purely a camera-based setup to give drivers a view of what's behind.

Earlier this week, it was revealed that USA insurance provider AAA of Southern California plans to raise rates for Tesla owners, in some cases by as much as 30%. Shareholders approved the company's recommendations on all agenda items, Todd Maron, Tesla's general counsel, said in Mountain View, California. The Model Y seems a bit bulkier and more sturdy than the previous-gen Tesla models, but we can not say anything truly conclusive at this moment.

The next big reveal for Tesla will be its concept electric semi-truck.

REUTERS/Kim Kyung-HoonTesla is said to be launching a new electric SUV in 2019.

Contrary to the earlier reports, the Model Y will have an entirely new chassis and wouldn't share platform with Model 3.

But wait, that's not all (in my best infomercial voice), Tesla will also be making a semi-truck.

It seems as if the Model Y is Musk's new favorite child, as it will not only get its own architecture but its own factory. This will allow them to optimize the vehicle, and design more efficient manufacturing lines.

Guarantee: With electric cars, the biggest risk is if something happens to the battery, your vehicle goes bust.

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