Tesla's Y SUV model will begin production in 2020



[ad_1]

Something to hope for: Tesla CEO Elon Musk has been teasing the company's next electric SUV for a few years now, but we finally have some details on its launch. In a letter to shareholders, the company announced that it would start production by the end of 2020, probably at the Gigafactory factory.

Tesla has been facing production issues for its current Model 3 production line, so investors were unsurprisingly a little worried that the Y model poses similar problems. Musk did his best to badure shareholders that Tesla had learned from Model 3 and would not make the same mistakes.

The company estimates that the cost and complexity of the Y model production chain will be significantly lower than that of the Model 3 chain. They anticipate that this will result in an acceleration of production. Indeed, the Y model will share about 3/4 of the components of the model 3. Since the production methods of these components have already been defined and optimized, the margin of error and delay is reduced.

Model 3 is manufactured at the Tesla Fremont factory in California, while the Y model will likely be produced at the Gigafactory in Nevada. Although the company has not yet shown a prototype, the tooling for the new production line will begin this year. The company expects sales of the Y model will be higher than model 3, which it says will "the profitability of our company. [to] become sustainable sustainable. "

According to other information contained in the report to investors, Model 3 was the best-selling luxury vehicle in the United States in 2018. They plan to bring the Shanghai Gigafactory online by the end of 2019. to meet the needs of global markets. The company also recorded its first consecutive profitable quarters in history.

Related reading

[ad_2]
Source link