Tesla Will Unveil Model Y Crossover Next Week

Tesla Inc. plans to publicly unveil its latest electric vehicle, the Model Y compact crossover, on March 11.

CEO Elon Musk says the Model Y will share about 75% of its content with the company’s Model 3 sedan. The company released a teaser image (right) of the new car over the weekend.

The Model Y will cost about 10% more than that the Model 3, whose base price dropped last week to $35,000. The vehicle is expected to be offered in rear- and all-wheel drive iterations with multiple power and performance levels that could hike its retail price above $60,000.

The Model Y will be fitted with conventional second-row doors rather than the complex gullwing doors on the company’s larger Model X crossover, according to Musk. He also indicates the car may be launched at Tesla’s big battery plant in outside Reno, Nev., rather than at the company’s main plant in Fremont, Calif.