At Tesla annual shareholder meeting this week, CEO Elon Musk discussed plans for new products, including the Model Y. Shown in this recently released teaser image, the Model Y is expected to hit roads around 2019.
With production at the Fremont factory “bursting at the seams,” Musk said Model Y will require a new plant with a location that has yet to be determined. Manufacturing improvements can be achieved to build the vehicle in an entirely new way, and capital expenditures can be decreased by a factor of two from the Model 3. He also noted demand for the Model Y will probably exceed demand for the Model 3.
Following the Model Y, Tesla will produce an electric cargo van, pickup and minibus, all using the chassis of the Model X. Tesla’s shift from producing only cars to also launching commercial vehicles will come as part of its ‘Master Plan, Part Deux’, a strategy that also outlines ambitions to take the lead with autonomous technology and transform the public transport sector.