March 4 (UPI) -- Tesla will unveil the Model Y sport-utility vehicle on March 14 at the company's Los Angeles Design Studio, founder Elon Musk said.
The Model Y will be a cheaper, scaled down version of the Model X, the same way the Model 3 is a smaller, cheaper version of the Model S. Musk said it will cost about 10 percent more than the Model 3 because it's about 10 percent larger. The price of the Model 3 varies but the company just announced it would begin producing the long-promised $35,000 version. The Model Y will use the same battery as the Model 3 but will get less range because of the added weight and size, Musk tweeted.