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.