Tesla to reveal Model Y – drops S and X prices

Tesla will unveil its Model Y on March 14 in Los Angeles.

Its chief executive Elon Musk said more than a year ago that the Model Y would be unveiled on March 15, 2019 – mentioning the Ides of March.

The March 14 reveal at Tesla Design Studio in Hawthorne, California, has been confirmed in a recent tweet from Musk.

Tesla plans to bring the Model Y SUV to production as soon as 2020, “most likely” at Gigafactory 1 in Nevada.

Earlier, the company confirmed plans for Model Y production at its Gigafactory 3 in China during a construction starting ceremony there.

The Model Y is likely to be a higher and bigger version of the Model 3 – Musk says about 10% bigger, costing 10% more and having slightly less range on the same battery.

It’s expected to feature a hatchback but not gull wing doors

Detailed specs and pricing will be announced at the March 14 event where Model Y prototypes should be available for test rides.

Meanwhile, Tesla has heavily cut the pricing of its Model S sedan and Model X SUV performance models.

That comes just after the company announced its new and cheaper base Model 3.

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Proportionally large price cuts have been made to other Model S and Model X variants.

In a blog post, Tesla says shifting all sales online and other cost efficiencies enable a lowering of prices by about 6% on average.

Tesla has also announced it will close many US retail stores.

It remains unclear whether Australian and New Zealand Tesla stores will be affected.