Tesla Model Y crossover reveal date set; Musk mentions a compact car

March 15 reveal date will be followed by 2020 production

As well as disclosing progress on Model 3 production goals at a shareholder meeting yesterday, Tesla also announced future release dates for its upcoming new products. The biggest deal is that the smaller Model Y SUV would see an official unveiling on March 15, 2019, with production slated to begin in the first half of 2020. The news was accompanied by a new teaser image, depicting the shadowy vehicle's front three-quarter view.

Another important piece of news was Elon Musk's claim that Tesla will build a compact car in "less than five years," as an answer to a question about which segments Tesla would expand to in the near future. The comment was vague enough, but if the car is built, it would be likely to compete with the upcoming Volkswagen ID electric vehicle. The ID is already being planned as a 2020 model-year car.

According to Musk, the Model 3 has outsold premium sedan competitors such as the BMW 3-series, Mercedes C-class, A4 and Lexus IS, making it now the top-selling premium sedan in the United States. Manufacturing bottlenecks have affected the rate at which these cars have been rolling out of the factory, and yesterday Musk said it is "quite likely" the company will meet its goal of building 5,000 Model 3s weekly by the end of June. Right now, Musk says the factory has hit a rate of 3,500 Model 3s per week, though an industry analyst warns that these are "burst build" rates and do not yet reflect sustained production.

Finally, the Tesla semi truck and the second-generation Roadster will see revisions before making it to production. The Semi will be redesigned slightly to meet regulations globally, and the Roadster will receive a performance-oriented variant in addition to the already quick base model car — the one that does 0-60 in 1.9 seconds.

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Tesla Model Y Information

Tesla Model Y

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