Tesla Begins U.S. Deliveries of the Highly Anticipated Model Y
【Summary】Electric vehicle maker Tesla has started deliveries of its fourth vehicle, the Model Y crossover, which might become the most popular vehicle Tesla has ever built.
Electric automaker Tesla's mission of accelerating the world's transition to sustainable energy began when the company started deliveries of the first Tesla Model S sedans back in 2012. Now the California company has started deliveries of its fourth vehicle, the Model Y crossover, which might become the most popular vehicle Tesla has ever built.
The first Model Y deliveries began over the weekend at the company's Fremont, California factory where the electric crossover is being built, Tesla announced Monday on Twitter.
The Model Y is Tesla's first crossover model, which is one of the most popular categories with consumers right now, so Tesla expects the Model Y to be a big seller.
The company's Chief Executive Elon Musk said in the past that the Model Y has the potential to outsell all of Tesla's other models combined. That includes the Model S sedan, Model X SUV and mass-market Model 3.
Model Y is an all-electric, mid-size SUV designed for more versatility The Model Y starts at $39,000 for the Standard Range version, and will also come in Long Range, Dual-Motor All-Wheel Drive, and Performance variants.
Like it did with the Model 3, Tesla is delivering the more expensive, Long Range Rear-Wheel Drive Model Y first. The Long Range costs $52,990 before incentives.
Tesla will follow up with the Dual-Motor All-Wheel Drive and Performance versions at a later date. Customers waiting for the least expensive Model Y Standard Range will have to wait a bit longer. Tesla plans to begin deliveries of this $39,000 Model Y in early 2021.
The Model Y is big enough to carry seven adults with its 3rd row seat. The powertrain provides 0-60 mph acceleration in as little as 3.5 seconds and a top speed of up to 150 mph. The Model Y Standard Battery will have 230 miles of range, while Model Y Long Range will be able to travel up to 300 miles on a single charge.
Tesla is ahead of schedule on the Model Y. The company's self-imposed delivery deadlines were missed in the past with the Model 3 launch. But Tesla is getting better at production and is avoiding some of the missteps that occurred during the Model 3 launch.
Tesla CEO Elon Musk told shareholders on the company's third-quarter earnings call that company moved the launch timeline from fall 2020 to summer 2020. "There may be some room for improvement there, but we're confident about summer 2020," Musk said.
That improvement turned out to be spring 2020.
The timing of Model Y deliveries is unfortunate for Tesla, as the U.S. economy grinds to a halt to prevent the spread of the Coronavirus. However, the Coronavirus fears are affecting Tesla's rivals as well, so the entire auto industry is experiencing a slowdown along with Tesla.
Last month, Tesla's stock reached an all time high of $968.99. Less than 30 days later, its down by over 50% to $445.07, amid a looming global recession caused by the Coronavirus.
However, once the virus disappears and the auto industry rebounds, Tesla might have one of the most popular electric vehicles on the market.
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