In October, Musk said "significant progress" had been made on the Model Y and that he had approved the prototype for production in 2020.
Let's take a look at the few specs available so far.
CEO Elon Musk was to introduce the Model Y Thursday night at a gathering of customers, employees and media.
Design wise, the Model Y is about what you would expect from a vehicle built on the same platform as the Model 3.
Tesla Inc will unveil its Model Y electric sports utility vehicle on Thursday evening in California, promising a much-awaited crossover that will face competition from European auto makers rolling out their own electric rivals. The heavier Model Y, however, will have less range because of its increased weight and size.
The Tesla Model Y Tesla
With a an undisclosed range and starting price of the $39,000, the Model Y buts up against offerings from Kia and Hyundai.
Still, the company expects the Model Y to do well.
Musk at the event tonight, admiring the new Model Y. The SUV will join the Model 3, Model S, and Model X in Tesla's range of consumer passenger vehicles as well as the impending second-generation Tesla Roadster and Tesla Semi.
Tesla, per usual, loves boasting about acceleration and the Model Y certainly is no slouch. He expects 300 miles of "true, usable" driving range.
"It feels like the Model 3", Musk said, noting the similar panoramic glass roof and dashboard design. We're assuming this is for the long-range model, which will be available first.
This set-up should help the Model Y make it into production quicker and cost less to develop.
Based on the success of the Model 3 and the growing popularity of SUVs (which held over 40 per cent of the Australian market at 2018's end according to industry expert V-Facts), it is thought that the Tesla Model Y could sell as many as double that of the Model 3.