New Compact Electric Vehicle 'Tesla Y' Debuts Ahead of Launch, Tesla Opens in South Korea

Tesla, Elon Musk's electric vehicle maker company, is not running out of tricks. Tesla is about to unfold Tesla Model Y, a new compact electric-powered SUV built on the same platform as Model 3. The launch of Model Y may debut in Asia as Tesla plans to open in South Korea.

So far, there is no formal announcement yet as to when Tesla will unveil the new Tesla Y Model. Knowing Elon Musk, he may just drop the news in the near future to the shock and awe of the public. Musk has also been dropping hints about the new electric vehicle model.

Tesla Model Y will have the signature Falcon Wing and other similar Tesla Model 3 specifications in terms of design, according to a news report.

During Tesla's Q&A call, Musk mentioned about the Model Y compact SUV by saying it is an "obvious priority after the Model 3." The company also expects the demand of the EV compact SUV to range from 500,000 to 1 million units per year.

Consumers and EV users aren't sure what the next model would be. But after much prodding by Twitter users, Musk was forced to reveal a little information about the vehicle.

"Model Y (compact SUV) off Model 3 chassis. Tesla Bus/Minibus/Spacebus off Model X," Tesla CEO Elon Musk said in a Tweet.

The anticipation caused auto enthusiast to envision what Model Y would look like. Autocar released an unofficial render of Tesla Model Y. The group also claimed that the new EV might be a bit more expensive compared to Model 3.

Reports say that the new model may not be ready until next year. But EV fans expressed excitement over the new model that Musk himself called "40 times" more powerful compared to older Tesla models.