The Model Y could help Tesla tap into the growing crossover market.
Tesla just introduced its latest electric vehicle, the Model Y, a crossover SUV that will cost from $39,000 to $60,000 depending on configuration.
Demand for sport utility vehicles in the United States has been high over the past few years. New models have flooded the market, looking to unseat best-sellers like the Toyota RAV 4, Nissan Rogue or Honda CR-V. According to Musk, however, the Model Y will share about 75 percent of its components with the company's Model 3 electric sedans, allowing Tesla to start manufacturing the new SUV for far less money that it spent to begin producing the Model 3.
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