Thu. Jul 18th, 2019

This is Tesla's 'Model Y', its entry into the electric family off-road market | Economy

This is Tesla's 'Model Y', its entry into the electric family off-road market | Economy

"2018 has been hard. I tell you that it has been like aging five years in one. " For a moment, Elon Musk He lowered his guard during the presentation of Tesla's last car and dropped this confession before a couple of thousand people on Thursday night at the company's headquarters in Los Angeles. The Model Y, which will be available in 2020, arrives at the start of a stage in which the electric car manufacturer Tesla hopes to enter fully into the market of the family mid-range SUV and leave behind its production problems and the doubts about leadership of its founder.

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The stylized new electric car model has a long-range version and a standard one. The first will cost $ 47,000 and will have an autonomy of 480 kilometers, acceleration of 5.5 seconds and a maximum speed of 209 kilometers per hour. The normal version will cost $ 39,000 and will have a smaller autonomy of 370 kilometers. It will be available in 2021. Two other more advanced versions can take the price of the new car up to $ 60,000. Tesla already has an all-terrain model, the Model X, which costs between $ 80,000 and $ 90,000.

The car could already be booked from Thursday night on the Tesla website worldwide. The company accepts deposits of $ 2,500 reimbursable as a signal. Three years ago, when Musk introduced the Model 3 with which it entered the market below luxury, it began accepting orders for $ 1,000. In two months he received 375,000 orders, that is, 375 million dollars. The car is arriving in Europe in these months.

The Model Y is "an SUV that drives like a sports car," Musk said. With it, Tesla completes the catalog built in the last decade. It already has a sports car, two high-end sedans and a luxury SUV. The new model is its irruption in the market of crossover, a seven-seat family SUV, the fastest growing car segment in the United States. The key to the new model is that it uses the same basic structure of Model 3 sedan, which should allow Tesla to reach more customers faster and lower production costs, which are one of the main concerns about its viability.

The launch of the Model Y comes at a time of turbulence for the Musk company and after a year in which its personal brand has lost its luster. The same Thursday, hours before the presentation, the company announced the replacement of its financial director, Deepak Ahuja, by Zachary Kirkhorn.

Last year, that Musk referred to with some anguish, Tesla had serious problems to fulfill the deliveries of his Model 3. This year he has announced a version of that car with which he tries to bring the luxury product to more public , turning it into a sedan high range between 35,000 and 50,000 dollars. After a few months in which he was in doubt that he could deliver his orders, production stabilized and in the fourth quarter he assembled 86,000 units of the Model 3.

Tesla closed the third quarter of last year with profits of 254 million dollars, which represent a great improvement compared to losses of 670 the previous year. In 2018, it achieved an increase in revenues of 130% to 6,820 million dollars thanks to the production of Model 3. The cost reduction is crucial in this strategy. In January, Tesla announced the dismissal of 7% of its workforce.

Before his guests in Los Angeles, Musk made a recap of the history of Tesla in these last 11 years. In 2008, they had only one car. By the end of this year, they expect to have manufactured a million electric vehicles. According to company calculations, Tesla cars already on the streets have saved four million tons of CO2 to date. Musk showed on the screen reviews of newspapers that in 2008 came to say that manufacturing electric cars in series was unfeasible stupidity. He compared them with last year's headlines about the recent efforts of other companies to manufacture electric cars. "It is very satisfying to see that the rest of the world also goes to the electric".


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