Tesla (TSLA) - Get Tesla Inc. Report plans to unveil its Model Y sport utility vehicle on March 14 during an event at the electric carmaker's design studio in Los Angeles, CEO Elon Musk said in a tweet on Sunday.
"Model Y, being an SUV, is about 10 percent bigger than Model 3, so will cost about 10 percent more & have slightly less range for same battery," Musk said in a tweet.
The Model Y won't have the "Falcon Wing" doors that are found on Tesla's bigger SUV, the Model X, The Verge reported. Musk previously had hinted that it might.
Musk also said Sunday that his company will unveil its electric pickup truck "later this year," the Verge reported.
Tesla is expected to build the Model Y at its Gigafactory outside Reno, Nevada, and the vehicle is supposed to enter volume production in 2020. Tesla also eventually plans to make Model Ys at the Gigafactory it is building in Shanghai.
Musk last week said a move to offer a cut-down version of its flagship Model 3 sedan would likely result in a first-quarter loss, only weeks after telling investors he would turn the carmaker into the black.
Tesla said last Thursday it will offer a $35,000 Model 3 with a reduced driving range of 220 kilometers (132 miles) and a slimmed-down interior. Increasing price points will boost both the range and the top-end speed of the Model 3, the company said, while buyers will be able to receive the new car within two to four weeks.
Tesla also said it would start shutting down its network of stores and showrooms to focus solely on online sales.
Tesla shares were rising 0.3% on Monday to $295.77 after finishing nearly 8% lower on Friday.