The Model Y is the small SUV by Tesla which is set to go on sale by the end of will share about 75 percent of its parts with the Model 3 sedan.  The information was revealed by CEO Musk during the company’s quarterly earnings call on Wednesday.

The company also started this in the letter to shareholders:

 “Model 3 will become a global product, the profitability of our business should become sustainably positive, our new Gigafactory Shanghai should start producing cars, and we will start tooling for Model Y production.”

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