Tesla Model 3 Prototype

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Tesla Model 3 Prototype

The vehicle is expected to be a compact crossover that uses the Model 3 as a base. It will then enter production later that year.

The Model Y, if it would come out, is said to be much cheaper than current vehicles from Tesla.

Tesla right now is 100% focused on getting the Model 3 ready for mass production, which is to say that the Model Y probably isn't even on the company's radar at this point. Tesla Motors Korea claims the Korean response to its cars has been exceptional with requests for test drive on Model S reaching the world's highest level. Both Model 3 and Model Y are expected to have the feature.

The Model 3 prototype seen on the video has all the stuff fans can expect on a camera-ready vehicle.

The major USP of Tesla cars, apart from their being eco-friendly is autonomy.

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Tesla Inc (NASDAQ:TSLA) Model S is already the fastest vehicle in production right now, and the company is working to make it even faster and get more power out of it.

Another expected design feature is that the Model Y will have a larger cargo space as the second row of seats in the vehicle are speculated to be foldable, providing consumers with around 88 cubic feet of interior storage.

As Tesla has grown more successful with each passing year, the company's plans for EV domination has become far more ambitious.

Tesla Founder and CEO Elon Musk announced in the press release that he was purchasing $25M of the common stock being offered. Autocar posits that the cost of the hardware alone should make this system an option that will be priced just south of $10,000 per vehicle: Versions of the auto without this system should also be offered as base models, per Tesla custom. The company last tapped bond markets in 2014, when it sold $2 billion of convertible notes to help fund its battery factory, Bloomberg data show.

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