We had discussed earlier how Elon Musk in his company Tesla’s shareholders meeting had discussed on the launch of a new Tesla SUV Model Y. Now, In Tesla’s latest earnings discussion, in addition to learning more about Model 3 orders and demand for Tesla cars, we have also come to know a bit more about the Tesla Model Y that has been teased for development.
Previously, Elon Musk had teased a picture of the Model Y at the shareholders’ meeting, but he had suggested it would not have much in common with the Model 3, saying it was a “mistake” to base the Model X on the Model S. But, contradicting to his earlier statement, in this week’s call, though, Musk reversed himself saying, “Upon the counsel of my executive team … who reeled me back from the cliffs of insanity … the Model Y will in fact be using substantial carryover from Model 3 in order to bring it to market faster.” Elon Musk says it’s important to deliver Model Y quicker because of the rising demand for SUVs in the market.
Musk had earlier said the Model Y could come to production level somewhere in 2019, but he did not mention a date around the launch. It is still not clear when the Model Y will see the light of the day. “Basing the Model Y on the Model 3 means it will have “relatively low technical and production risk as a result,” Musk said. That still does not mean Musk won’t depart from the formula the next time around. “I still think we want to do the crazy thing in the future, but we will punt that until after the compact SUV.”
Musk feels good about where Tesla stands today, despite the difficulty of the Model 3 launch. “Last week stressed the hell out of me,” Musk said, “but I really think that this is probably the best I’ve ever felt about the company.”
Well, Tesla keeps spinning us around and surprises us every now and then. Lets wait and watch how this new model shapes up.