Tesla Motors Will Launch New Model Y SUV Based on Model 3

Tesla Motors Inc (TSLA) Model 3

CEO at Tesla Motors Inc. , Elon Musk, has just confirmed his company ’s plans for two new vehicles. The first will be dubbed as the Model Y, a compact SUV that should turn Tesla into the S3XY (SEXY) automaker it ’s always wanted to be. Beyond that is the Spacebus. This will be Musk’s first all-electric minivan. Reports claim that both of these EVs will rest atop the EV automaker’s existing chassis.

Tesla Motors Inc (NASDAQ:TSLA) Model 3

The news took center stage this week as the company ’s Q2 earnings were due for review. Not excluded from the Tesla hype is Musk’s new “Master Plan”, which lays out a new chapter in the firm’s list of ambitions. From what has been shared, the coming years should see Tesla Motors grow into a clean transportation and energy juggernaut.

New Master Plan for Tesla

Musk first confirmed his “Master Plan: Part Deux” several weeks ago. It was a revelation that depicted the company spreading into more of the auto industry’s spheres and beyond. Another major of the plan sees Tesla’s energy ventures coming to the fore. Alternative energy and solar in particular will become a huge part of the electric company’s brand in the coming years.

The first Master Plan from Tesla was shared around a decade ago. It depicted how the company would deeply plant itself in the auto market, starting with the Roadster then grow its way to producing the mass-market Model 3. Similarly, Part Deux gives Tesla fans a glimpse of what they should expect to see in Tesla Stores over the next few years.

Model Y and Spacebus

Firstly, the company plans to shatter the idea that its luxury EVs are for the rich and famous. That’s the affordable Model 3’s job, which in actuality forms part of Tesla Motor’s first master plan. Beyond its $35,000 car, comes the Model Y. It will be a smaller SUV built on the Model 3 chassis. Musk did not state when the Model Y will be launched. A few analysts suspect it to come around a year after the Model 3. This is because most of what is expected to be Tesla’s affordable SUV will have long been built and placed into production by then. This includes its frame and battery packs.

The CEO also assured that the Model X’s skeleton will be put to good use. Not content with just sedans and SUVs, Tesla Motors will roll out its first ever Minivan in the next few years. He vaguely referred to it as “Bus/Minibus/Spacebus”, from which the media ran off with as the Spacebus. The current luxury Model X chassis will house this EV.

Other vehicles, too, should join the Tesla line-up, Musk hints at trucks and public transport ventures. The company has clear intentions to cement its self in all thing transportation.

Tesla goes big on Powerwall

But beyond all this is Tesla’s energy ventures. Electric power storage units in every household is something that Elon Musk wants to push into the mainstream. Its recent $2.6 billion acquisition of SolarCity should prove most useful in this regard.

It is clear that Musk has huge plans for Tesla Motors Inc . He need only gain more investment on his side. The EV giant once again, had poor financials to share for last quarter. Tesla has been blowing through money with a lot investors at their wits end with how it handles its cash. Most frustrating for some is the company’s expensive SolarCity merger. Troubles regarding Autopilot have cast a shadow on the brand’s safety assurances.

The “Master Plan: Part Deux” instills heaps of excitement among the tech and automotive leagues. However, some might view the revelation as a bit premature. Tesla Motors still has successfully delivery the highly awaited Model 3 while regaining the trust of investors and the general public.

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