Tesla Inc unveiled its Model Y electric sports utility vehicle on Thursday eveni...
SAN FRANCISCO - Tesla Inc unveiled its Model Y electric sports utility vehicle on Thursday evening in California, promising a much-awaited crossover that will face competition from European car makers rolling out their own electric rivals.
A standard version, to be available sometime in 2021, would cost $39,000, with a 230-mile range. The vehicles can be configured to include 7 seats for an additional $3,000. Each of Tesla’s vehicles, from the Roadster to the latest Semi, were driven onstage before the blue Model Y appeared. On Thursday, ratings company Fitch warned that, despite Tesla’s early lead, “incumbent carmakers have the ability to catch up ... thanks to their capacity to invest and their robust record in product management.”Tesla’s targeted volume production date of late 2020 for the Model Y would put it behind electric SUV offerings from Volkswagen AG’s Audi, Daimler AG’s Mercedes-Benz and BMW.
That plan - later scrapped - ushered in a period of turmoil at the company, from Musk’s public battles with regulators, a flurry of securities lawsuits, cost cutting and layoffs.
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