Model Y electric SUV coming sooner; profit reported

Model Y electric SUV coming sooner; profit reported

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Tesla said Wednesday that it would begin delivering its new electric SUV ahead of schedule this year as the automaker continues to enjoy a rapid rise in its stock price.

Tesla it has already begun installing equipment to manufacture the Model Y and expects to begin deliveries by the end of the first quarter. CEO Elon Musk had previously predicted the Model Y would arrive in fall 2020. 

The Model Y is a slightly larger vehicle than the company’s most popular and affordable vehicle, the Model 3 compact car. The vehicles share the same basic architecture, but the Model Y will cost slightly more and come with an optional third row.

The company also said it has increased the battery range of the all-wheel-drive version of the Model Y from 280 miles to 315.

Musk also told analysts, investors and the media on a conference call that demand for the company’s recently introduced Cybertruck electric pickup “has been incredible.”



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