Seven-seat Tesla Model Y revealed with 300-mile range

Seven-seat Tesla Model Y revealed with 300-mile range

Production of the Model Y is set to begin in 2020.

While the Model 3 has largely been a sales success for the company, it's also a sedan and that segment hasn't been doing particularly well over the past few years with consumers opting for SUVs at an increasing rate. It's worth noting, though, that the entry-level model won't be available until 2021 as Tesla will look to manufacture the more margin-friendly models first, a strategy the company undertook with the Model 3.

The Model Y may be Tesla's most important product yet as it attempts to expand into the mainstream and generate enough cash to repay massive debts that threaten to topple the Palo Alto, California, company. Tesla will announce the Model Y's features plus pricing, as well as offering test drives for those in attendance.

Musk has high hopes for the Model Y. He said Tesla expects to sell more Model Ys than S, X and 3 combined. The heavier Model Y, however, will have less range because of its increased weight and size.

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Still, the Model Y, like all Tesla's models, has already seen pre-production delays.

The Model Y is unveiled at last.

"With the same sleek, minimalist dashboard of the Model 3 that does away with the business of instrument clusters so prevalent in traditional vehicles, replaced with the quintessential 15" tablet display, it retains the cool futuristic edge that Tesla has over its competitors. As the name implies, this variant will focus on maximizing range and be able to cover 300 miles (482 km) on a single charge. It will share 75 percent of its components with the Model 3.

And for anyone who wants to watch the full Model Y unveiling, it's available below. Remember, Tesla with the Model 3 claimed that it learned a tremendous amount from the production issues that plagued the Model S and Model X, only to find out that Tesla went off and created brand new production problems with the Model 3 by relying too heavily upon automation. The history of Tesla and its various problems led us to this point, where Musk expects that Tesla can confidently deliver on its production goals exactly as expected.