The Model Y is said to be a crossover SUV and will share about 75 percent of its parts with the Model 3, Tesla’s current cheapest model.

Elon Musk, on his Twitter said that the car will be about 10 percent bigger than the Model 3, hence, it will be 10 percent more expensive. He also hinted at a lesser range as it will use the same battery to power its motor as the Model 3.

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