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Tesla to unveil Model Y SUV as electric vehicle competition heats up

SAN FRANCISCO (Reuters) - Tesla Inc will unveil its Model Y electric sports utility vehicle on Thursday evening in California, promising a much-awaited crossover that will face competition from European car makers rolling out their own electric rivals. Chief Executive Elon Musk has said the compact SUV, built on the same platform as the Model 3, which starts at $35,000, is about 10 percent bigger than the sedan, will cost about 10 percent more, and have slightly less range for the same battery. Musk plans to unveil the car and offer pricing and other details at a small event at Tesla's design studio in Hawthorne, outside Los Angeles, and it will stream it online starting at 8 p.m. PT (11 p.m. Small SUVs are the fastest-growing segment in both the United States and China, the world's largest auto market, where Tesla is building a factory, making the Model Y well positioned to tap demand.

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