Electric car maker could even more on its plate than it already has

Tesla has just finished its annual shareholder meeting, and two of the biggest takeaways involve the announcement of the Model Y crossover and the teasing of a compact car that could be built in the next five years. Without jumping to any specifics, Musk responded to a question about compact cars by saying that the electric car maker will have its own “in less than five years.” The company’s goal, it seems, is to have a car that can compete against the likes of the Volkswagen Golf and the rest of the hatchback segment.

Tesla Shareholder Meeting 2018

Tesla uncorked a lot of details at the shareholders meeting, but none gained as much buzz as the company’s teasing of the Model Y crossover. Elon Musk didn’t dive into the details regarding the crossover, saying only that it would be revealed in March 2019 and it would have “something super special” once it goes on sale in 2020. He also added, somewhat jokingly, that the crossover would be devoid of any leather, “even in the steering wheel…if it does have a steering wheel.”

The Model Y is being prepared as a small crossover that would complement the Model X in Tesla’s lineup. Once it hits the road, it is expected to compete against the likes of the BMW iX3 and other electric crossovers that will be in the market by that time.

Given the popularity of crossovers and SUVs these days, it wouldn’t be surprising if the Model Y ends up becoming even more of a hot ticket item than the Model 3. The latter has received over 450,000 reservations to date, but if Tesla plays its cards right with the Model Y (maybe no long production delays this time?), it could turn into the best-selling Tesla model in the company’s short history.

Elon Musk Teases the Tesla Model Y; Mentions a Compact Hatchback in the Near Future
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The base unit could have a 60 kWh battery, and Tesla can go up to as high as a 90 kWh battery for the range-topping unit.

Putting our speculation hats on, we’re looking at the Model Y as ending up with smaller battery packs compared to the Model X. The base unit could have a 60 kWh battery, and Tesla can go up to as high as a 90 kWh battery for the range-topping unit. That would give customers plenty of power options to choose from without the model stepping on the toes of the bigger Model X. In terms of price, a $45,000 base model is possible, though that could still change depending on how the competition prices their own electric crossovers.

The other model that got people talking is the Tesla compact car. Once more, no specific information was given except that the car, if it does get built, will be launched a little further down the road, possibly around 2023. The goal behind the compact car is for Tesla to have a model that could compete in another popular segment in the industry. No word yet on whether the automaker is also looking into getting into the subcompact car segment.

Further Reading

2020 Tesla Model Y Computer Renderings and Photoshop Exterior Exclusive Renderings
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Read our full review on the 2020 Tesla Model Y.

2018 Tesla Model 3 Exterior High Resolution
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Read our full review on the 2018 Tesla Model 3.

2016 Tesla Model X High Resolution Exterior Wallpaper quality
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Read our full review on the 2017 Tesla Model X.

2017 Tesla Model S Exterior
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Read our full review on the 2017 Tesla Model S.

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