The Model Y with a standard battery will be able to travel 230 miles on a single charge, while the Model Y Long Range will have a range of 300 miles and cost $47,000. A performance variant will cost $60,000, with a range of about 280 miles and capable of 0-60mph in 3.5 seconds.
Tesla expects to deliver Model Y performance, long-range rear-wheel drive, and the dual-motor all-wheel drive variants in fall 2020, while buyers of the cheaper $39,000 standard-range model will need to wait until spring 2021.
As noted by ZDNet sister site CNET, the Model Y shares 75 percent of its parts with the Model 3. However, it's slightly bigger and about 10 percent more expensive.
The new Model Y features a panoramic glass roof, 66 cubic feet or 1.9 cubic meters of storage space, a 15-inch touch-screen console. Tesla is planning to offer a seven-seater option for an extra $3,000 in 2021.
Musk talked up its AutoPilot too, noting that it will be "feature complete with self-driving sometime later this year… It will be able to basically do anything by the end of this year just with software upgrades".
Ahead of the Model 3 launch, the Tesla revived the Full Self-Driving option on its page for Autopilot and promised it would be available later this year. It had previously removed the option as it was causing confusion among buyers, according to Musk. The Full Self-Driving costs $5,000 in new cars and $7,000 to add it to already sold cars.
Musk has said that Full Self-Driving will allow Tesla owners to use Autopilot in complex city environments rather than just highways.