confirmed Sunday that the company will reveal its new Model Y SUV at an event in Los Angeles on March 14. The news came from -- where else? -- Musk's Twitter account.
The Tesla Model Y is a crossover SUV that will share 75 percent of its parts with the
, which is Tesla's cheapest car. It will be Tesla's fifth car design since the company was founded in 2003.
We know little about the Model Y at this point. In June 2017, Tesla released a black-and-white promo image.
Earlier this year we heard rumblings that a reveal was closer than previously anticipated. Musk has stated that the car would be on the market by 2020 and would herald a "manufacturing revolution."
Musk says the car is about 10 percent bigger than the Model 3, so will cost roughly 10 percent more. Additional details about pricing and specs will be unveiled at the March 14 event.
Musk also announced that Tesla's first v3.0 Supercharger station is going live this coming Wednesday. Previously he has stated that the new version of the Supercharger would be able to charge at a rate of 350kW.
It's been a busy week for Tesla. On Feb. 28, it announced that the $35,000 Tesla Model 3 was available to order online, and that it would be ceasing all retail sales of its vehicles. Apparently this would help keep the price of the Model 3 (and presumably now the Model Y) at an affordable level.
Originally published March 3.
Update, March 4: Intro updated.