Tesla officially unveils the Model Y

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And with Tesla being Tesla, an all-wheel drive dual-motor version will be available for $51,000 while a performance version will be available for $60,000.

Some have lamented that due to the fact the Model Y shares 3/4 of its architecture with the Model 3, it may not have the roominess most come to expect in an SUV. We're assuming this is for the long-range model, which will be available first. The heavier Model Y, however, will have less range because of its increased weight and size. The base variant comes in at $39,000, with a range of 370 kilometers (230 miles) on a single charge; the top-end Performance model will be able to cover 450 kilometers (280 miles), hit a top speed of 240 kmph (150mph), and set you back by $60,000.

Tesla Model Y joins the company lineup that now consists of the Model 3, Model S and Model X in the passenger vehicle range along with the second generation Tesla Roadster and Tesla Semi. The point of the reveal tonight is to get those companies to challenge Tesla to create better electric SUVs faster than Tesla can, while signaling to people who may be thinking of purchasing an SUV in the near future that they may want to wait and get a Model Y instead of something else.

With the Model Y, Tesla has finally unveiled the last vehicle in its "S3XY "roadmap".

It has a panoramic glass roof keeping it in common with the Model 3, adding to the feeling of space.

Tesla Model Y
Elon Musk set to unveil Tesla's latest passenger vehicle tonight in Los Angeles

That plan - later scrapped - ushered in a period of turmoil at the company, from Musk's public battles with regulators, a flurry of securities lawsuits, cost cutting and layoffs.

The risk is "quite low" Musk told analysts in January.

Front Shot of Model Y.

Still, the company expects the Model Y to do well.

After the stream concluded Tesla tweeted a link to where customers can customise their future Model Y. Suppliers were originally told that production would start on the vehicle in November 2019, sources told Reuters previous year. If it wasn't for that legal threat, Tesla's lineup would have included the Model S, Model E, Model X and Model Y - i.e., SEXY. Tesla said it hopes to build 2,000 Model Ys per week by September 2020.

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