Tesla’s chief executive officer Elon Musk has revealed that the electric carmaker’s planned crossover SUV, the Model Y, will likely be launched in 2010. Musk was speaking in an earnings call during which it was revealed that the quarter one revenues had risen by over double the amount year-over-year.
“I think we need to come up with the Model Y sometime in 2020 or, aspirationally, late 2019. And then I think that 1 million units is quite likely, combined, yeah. Maybe more,” Musk disclosed in the conference call.
Entirely new platform
Additionally, Musk also clarified that the upcoming crossover SUV will not be based on the Model 3 platform but rather an entirely different one. This is a break from the practice of other auto manufacturers who share platforms between models in order to save on production and development costs. Musk explained that this was because an entirely new platform would assist the company attain new levels of efficiency. It would also help the electric carmaker to design vehicles that are simpler to manufacture.
To illustrate his point Musk pointed out that the Model S had an electrical system that had wires running for a combined length of about 1.86 miles. In contrast, the Model 3 reduced the combined cabling length by half. The Model Y will improve on this figure even further by reducing the cabling to 100 meters or approximately 328 feet.
Model 3 on course
In the same earnings call Tesla’s chief executive officer also affirmed that the electric carmaker was on schedule with regards to the production plans of the Model 3. Production is slated to start in July this year and by the end of the year the number of Model 3 cars that will be rolling out of the Tesla plants is supposed to have hit 5,000. Later in 2018, the production level should have doubled to 10,000.
Musk also confirmed that reservations for the company’s most affordable car kept on growing despite there being no advertising. A few hours after it was unveiled, the number of reservations for the car had reached 180,000 in the first 24 hours. In the next 12 hours the number of reservations had again increased to 276,000. The number was to jump to 400,000 in the next couple of weeks ensuring that it was sold out for the next 18 months meaning customers making new orders today will have to wait for more than one year. Each reservation requires a deposit of $1,000. The deposit is refundable.