Tesla finally launched its crossover SUV today, with CEO Elon Musk taking to the stage at an event in LA to show off the company's fifth all-electric car. The shiny new Tesla Model Y shares plenty of DNA with the company's Model 3 sedan, albeit with a little less range, a little more space and a slightly higher price tag.

Musk confirmed the launch of the Model Y earlier in March, stating the compact SUV would be built on the same chassis as its mass-market Model 3. It would, however, be about 10 percent larger and therefore despite having the same battery, offer slightly less range. And this all appears to have been more or less on the money.

Musk started today's presentation by bringing the audience up to speed on the company's history, beginning with the Model S, which he says was built to "compete with the very best gasoline cars" as "proof that you can go electric."

He then wheeled out the Model X and the Model 3 behind it, with a few musings about the company's manufacturing troubles and a few too many S3XY-inspired gags strewn throughout. You'd be forgiven for thinking he'd come directly from an appearance on the Joe Rogan podcast, but perhaps he was just excited about the whole launching a new car thing.

The Model Y was then finally wheeled out to join the Teslas on stage, and the rundown was relatively quick compared to the drawn out stroll down memory lane that preceded it. The Long Range Model Y should offer 300 mile (482 km) of usable range, Musk said, along with a 0-60 mph time of 5.5 seconds and a top speed of 130 mph (209 km/h). Four variants will be available in all, with the key specs as follows:

Other features include an optional seven-seat configuration, the glass panoramic roof featured in the Model 3, and a 66 cubic-ft of cargo space. As you'd expect, it will also come with Tesla's Autopilot software, which Musk says should be fully feature-complete before year's end by way of software updates. He also didn't seem too concerned about demand for the car, and perhaps justifiably so considering the recent uptick in crossover sales in the US market.

"I think it will be the mid-sized SUV that you will want," said Musk. "I think we'll probably do more Ys than S, X and 3s combined."

Product page: Tesla Model Y

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