The model of Tesla Y – the SUV electric car that CEO Elon Musk has been annoyed and spoke since 2015 – will begin production by the end of 2020, the company said in a letter to the shareholders  The carmaker, who has not yet demonstrated a prototype of the vehicle, said he would start working with the Y model this year. Unlike other Tesla electric vehicles, the Y model is likely to be produced in the Nevada's huge giganfactoria, Musk said during a profit talk. the car will be higher than its new model 3.
Tesla also predicts that the production line price for Y should be significantly lower than model 3 in Fremont, California, as it will be built on the same platform and will share about 75% of its components with Model 3.
The production ramp for Model Y should also be faster, the company predicts.
Production of Model Y in the giant must reduce the company's risk of performance and cost
"This year should be really exciting for Tesla," the company said in a letter to the shareholder. "Model 3 will become a global product, the profitability of our business will become sustainable, our new Gigafactory Shanghai will begin to produce cars and we will start with Y-model tooling."