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Tesla Model Y crossover announced; production starts late 2020

Tesla Inc. on March 14 unveiled its fully electric Model Y crossover, which will be available in the range of $39,000 to $60,000.

The mini-SUV, which will come with a seven-seater option, was priced at $47,000 for a rear-wheel drive with an estimated range of about 300 miles. A long-range dual motor all-wheel-drive variant will cost $51,000 for a range of 300 miles. The top dual-motor all-wheel drive performance variant will cost $60,000 and have a 280-mile range in a single charge.

The three variants, which are available for preorder, will begin production in late 2020 in North America and early 2021 in Europe and China.

The carmaker also plans to offer a cheaper standard range version, production for which is expected to begin in North America in early 2021 and Europe and China in early 2022. The company plans to price it at $39,000 but the vehicle is currently not available for pre-booking.

The company has started accepting preorders of the Model Y in North America, parts of Europe and China for $2,500. Tesla's Autopilot driver assistant will cost an additional $3,000 and the full self-driving mode will cost $5,000, the company said. In Europe, the Model Y can be ordered in Norway, the Netherlands, Germany, Switzerland, Sweden, Austria, Belgium and Spain, though the carmaker plans to roll out the vehicle in more markets.

On Feb. 28, Tesla rolled out the long-awaited $35,000 version of its Model 3 sedan, which featured a 220-mile range and a top speed of 130 miles per hour, at a price of $35,000.