Tesla will share detailed specs of the SUV and its pricing March 14 during an event at the company’s design studio in Los Angeles. The Model Y is Tesla’s fifth vehicle, and its second SUV after the Model X. Potential customers and car reviewers will be given the opportunity to take the Model Y out for a spin during the event, Musk said.
The announcement comes just days after the company said it would close several U.S. stories and shift vehicle sales online to help keep prices down. The Model 3, America’s best-selling electric car, was first introduced with a $35,000 price tag in 2016 but has been sold since then only at higher prices due to what Musk has called a “hellish” series of financial struggles and manufacturing delays.