Tesla Announces 2020 Production Start for Model Y Electric SUV
Tesla confirms that volume production of its highly anticipated Model Y electric SUV begins by late 2020. The vehicle shares most of its components with the Model 3 to significantly reduce manufacturing costs.
Tesla officially announces that volume production of the Model Y electric SUV begins by the end of 2020. The automaker starts tooling for the vehicle this year, even though it has yet to show a prototype to the public. CEO Elon Musk strikes a highly optimistic tone regarding the upcoming vehicle.
Unlike previous Tesla vehicles, the company builds the Model Y at its massive Gigafactory in Nevada. This strategic location shift reduces execution risks and eliminates the costly process of shipping parts to the Fremont assembly plant in California. Musk predicts that the Model Y ultimately outsells the popular Model 3.
The new SUV shares approximately 75 percent of its components with the Model 3 because it uses the exact same underlying platform. This extensive overlap means the Model Y production line costs substantially less to set up and allows for a much faster manufacturing ramp. Tesla views 2019 as a pivotal year of preparation for this major expansion.