Elon Musk confirms the next Tesla coming after the Model 3
But it's unlikely the Model Y SUV will arrive before the end of the decade
At the end of Tesla's second-quarter earnings call on Wednesday, CEO Elon Musk confirmed that the next vehicle headed our way after the Model 3 will be a compact SUV called the Model Y.
Tesla has hinted at the upcoming Model Y for more than a year, and Musk even included the compact SUV in his much-anticipated "Secret Master Plan...Part Deux" last month.
But Musk told analysts and members of the media that Tesla will turn its attention to the Model Y after the Model 3.
Even though Tesla unveiled the prototype of the US$35,000 mass-market sedan in March, the production variant of the Model 3 likely won't reach consumers until late 2018 at the earliest.
That means the compact SUV will likely not arrive before the end of the decade. As a result, details on the car are slim. The Model Y is expected to be built on the Model 3 platform and may even spawn a pickup truck variant.
Since Musk indicated that it is unlikely Tesla will build a car cheaper than the Model 3, expect the 3 and the Y to have a similar pricing relationship that the Model S sedan shares with the Model X SUV.
The Model X is generally priced a few thousand dollars more than the corresponding trim level in the Model S lineup. The base Model S 60 starts at US$66,000, while the bare-bones Model X 60D starts at US$74,000. While the difference in dollar figures won't be as steep, the pricing correlation between the Model 3 and Model Y will likely exist.
Musk also mentioned that the company is working on what the CEO calls a "mini-bus." It was also referenced in part two of the "Secret Master Plan." But it is unclear if Musk is referring to a commercial bus or a minivan in the realm of a Volkswagen microbus. The Tesla CEO did say, however, that the "mini-bus" will be built on the Model X chassis.
Finally, in case you haven't noticed, with the addition of the Model Y, Tesla's lineup will consist of Model S, 3, X, and Y.
That's right. It spells "SEXY."