Tesla Model Y Electric SUV: Update

Tesla Model Y electric SUV

Automotive Manufacturers Globally, To Included The Famed EV Manufacturer, Tesla Inc., Are Being Forced To Shutdown As Governments Across The World Fight To Contain The Coronavirus Pandemic!

Due to the global coronavirus predicament, the California based electric vehicle manufacturer, Tesla Inc. has been forced to halt production of the highly anticipated Tesla Model Y battery-electric vehicle (BEV).  

The all-electric compact SUV, modelled after the very successful pure electric Tesla Model 3 (same platform), is being manufactured at the production facilities in Fremont, California.  However, as governments across the world commence imposing lockdowns and restrictions, Tesla has been forced into a three-week lockdown.  

It is certainly a significant setback for the leading electric car manufacturer, given its plans to scale the production of the Tesla Model Y.  Elon Musk, the co-founder of Tesla Inc., has remained keen to continue manufacturing, however, authorities at Alameda county are keen to restrict activity to only what is essential.  Elon Musk said in an email to employees “My frank opinion remains that the harm from the coronavirus panic far exceeds that of the virus itself.”

Earlier today, Volkswagen, the global automotive behemoth, also a leader in the zero-emission road transportation sector, announced it was suspending manufacturing in a number of locations across Europe.  The German company will halt production in Spain, Portugal and Slovakia.  It will also reduce work in its Italian factories.  Volkswagen sells pure electric vehicles like the all-electric Audi e-tron, the all-electric VW ID.3 part of the VW ID.Family and the all-electric Porsche Taycan.  Other manufacturers to also suspend production include, Toyota, BMW, Honda and Nissan.  

Tesla Model Y electric SUV
The All-Electric Tesla Model Y (credit: Tesla)

Only in time, will we gain clarity of the impact of the Tesla shutdown on the deliveries of the Tesla Model Y. Having said that, Tesla had commenced deliveries of the Model Y last week (US market), well ahead of schedule (6 months).  Deliveries for the UK were slated for end 2020, however, this may now be moved to 2021.  Also earlier this Month, Elon Musk Tweeted that Tesla has manufactured one million electric vehicles!

Tesla Model Y electric SUV
The All-Electric Tesla Model Y (credit: Tesla)

However, in the meantime, for those unfamiliar with the Model Y, below is a brief recap.  It is the second all-electric SUV from Tesla after the Model X.   The Model Y is available in two variants, the Performance and the Long Range AWD.  Both variants seat up to 7 adults.  

Tesla Model Y electric SUV
The All-Electric Tesla Model Y (credit: Tesla)

The Performance variant can accelerate 0-60 mph in 3.5 seconds, while the Long Range variant will achieve it in 4.8 seconds. The Long Range has an estimated WLTP of 314 miles on a single charge, while the Performance variant can achieve up to 298 emission-free miles. As expected the Performance Model Y has a higher top speed (150 mph) compared to 135 mph for the Long Range.   The Model Y is expected to be priced around £36,000. 

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Ashvin Suri

Ashvin has been involved with the renewables, energy efficiency and infrastructure sectors since 2006. He is passionate about the transition to a low-carbon economy and electric transportation. Ashvin commenced his career in 1994, working with US investment banks in New York. Post his MBA from the London Business School (1996-1998), he continued to work in investment banking at Flemings (London) and JPMorgan (London). His roles included corporate finance advisory, M&A and capital raising. He has been involved across diverse industry sectors, to include engineering, aerospace, oil & gas, airports and automotive across Asia and Europe. In 2010, he co-founded a solar development platform, for large scale ground and roof solar projects to include the UK, Italy, Germany and France. He has also advised on various renewable energy (wind and solar) utility scale projects working with global institutional investors and independent power producers (IPP’s) in the renewable energy sector. He has also advised in key international markets like India, to include advising the TVS Group, a multi-billion dollar industrial and automotive group in India. Ashvin has also advised Indian Energy, an IPP backed by Guggenheim (a US$ 165 billion fund). He has also advised AMIH, a US$ 2 billion, Singapore based group. Ashvin has also worked in the real estate and infrastructure sector, to including working with the Matrix Group (a US$ 4 billion property group in the UK) to launch one of the first few institutional real estate funds for the Indian real estate market. The fund was successfully launched with significant institutional support from the UK/ European markets. He has also advised on water infrastructure, to include advising a Swedish clean technology company in the water sector. He is also a member of the Forbury Investment Network advisory committee. He has also been involved with a number of early stage ventures.

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