Tesla (TSLA) unveils its Model Y prototype, an all-electric mid-sized crossover SUV, at the company's design center in Hawthorne, California Thursday, March 14.  The Model Y is about 10 percent bigger than the Model 3 and features a panoramic glass roof, a 15-inch touchscreen display, about 65 cubic feet of cargo, and seats up to 7 passengers.

It also reaches a top speed of 150 mph and covers up to 300 miles on a single charge.

The company plans to produce four different versions of the new SUV

  • A standard-range Model Y
  • Long-range Model Y
  • Dual-motor all-wheel drive Model Y
  • A performance Model Y

The new SUV will cost from $39,000 to $60,000 depending on the configuration.

Tesla's long-range Model Y will be rolled out first, will cost around $47,000, and is expected to be available in Fall 2020.

Elon Musk said at the event, "We expect it will be the safest mid-size SUV in the world by far."

He also told the crowd that he expects the Model Y to sell more units than the Model 3 and Model X combined.

Tesla previously said it would most likely manufacture the Model Y at Gigafactory 1, but many questions still remain unanswered, including if it will, in fact, be manufactured there and how fast Tesla will scale production to meet demand.

Related. Tesla Rolls Out Model Y Crossover SUV