Tesla to Begin Model Y Production Next Summer

Tesla Inc. tells investors it will begin delivering its upcoming Model Y crossover model next summer, about six months sooner than originally planned.

The coupe-like model (pictured) is a variant of the Tesla Model 3 small car and has a base price of $49,200. Tesla is taking pre-orders for the vehicle now, and expects to launch production at the company’s factory in Fremont, Calif. next spring.

Tesla also will add the Model Y at its new gigafactory in Shanghai. The $2 billion facility, which officially opened last week, targets weekly output of 1,000 Model 3 cars by the end of this year.

Tesla says it also is nearing a decision on a location for an assembly plant in Europe. That factory also will produce Model 3 and Model Y vehicles.