One of the most exciting prospects for fans of the electric car in recent months has been the rumors regarding the Tesla Model Y. This is very much a secretive prospect at present, with the electric car market-leader having yet to even confirm the existence of the vehicle. Notorious CEO Elon Musk did tweet to mention the Model Y, but this has since been deleted, and certainly cannot be considered an official confirmation.

Nonetheless, this twitter slip got tongues wagging about the existence of the Model Y, and it is now strongly believed among the analyst community that this vehicle will indeed appear in the foreseeable future. The Model Y is viewed as the most affordable Tesla vehicle yet to be manufactured, and one that will continue the process of establishing the electric car manufacturer as a mainstream market player.

New Tesla Model Y concept

And with excitement building regarding the potential release of the Tesla Model Y, a major designer this week examined the possible appearance of this electric car contender. Remco Meulendijk offered his impression on how this forthcoming vehicle may appear when it hits the stores, and the resultant images will be intriguing for fans of Tesla.

Warren Buffett: If You Own A Good Business, Keep It Buying private businesses is easier than acquiring public firms, and investors should avoid selling good investments at all costs, according to the Oracle of Omaha, Warren Buffett. Q2 2020 hedge fund letters, conferences and more In an interview with CNBC in March 2013, Buffett was asked if he was looking at any businesses, in particular, Read More

Meulendijk commented that “the fourth model that will be introduced to complete the ‘S3XY’ lineup is the smaller crossover of Tesla based on the Model 3.” The designer projects, as has been frequently suggested in the media, that the Model Y will be a practical vehicle, sharing the platform of the Model 3. While the Model 3 has yet to be released, Tesla has at least confirmed the existence of this vehicle, and it is currently on track to be on the road in 2017.

Price tag

However, the designer surprisingly predicts that the Model Y will be priced at a slightly higher point than the Model 3. Many analysts believe that the Model Y will be the most affordable vehicle that Tesla has yet produced, as production costs will have reduced by the time that the vehicle is manufactured, and Tesla will also be building on existing technology by this time.

Nonetheless, regardless of the quibbles over the details, Meulendijk has unquestionably produced some striking images, and it is interesting to get an insight into what the Tesla product range could look like shortly before the end of the decade.

Competition

The Model Y will be launched into an interesting and more diverse electric car marketplace when it finally arrives, not least because the mooted Apple Car could be nearing completion by this time. We are several years away from Apple even confirming the existence of the Apple Car, let alone releasing such a vehicle, but it is believed that the Apple electric car could be a reality before the end of the decade.

Meanwhile, major auto manufacturers such as Audi and BMW have already committed to the electric car marketplace, as it becomes clear that this will be a major niche in the future. While Tesla has been allowed to build up an extremely powerful market position in electric cars, there is no guarantee that the corporation will be able to retain this position in the future.

However, the aforementioned Musk has already welcomed the entry of Apple into the electric car marketplace, as he believes that it will ultimately result in Tesla gaining a smaller slice of a much larger pie. Certainly environmental trends point to the idea of electric cars becoming more popular, as governments incentivize greener motoring, and the environmental necessity for a shift towards electric cars becomes more obvious.

Entry-level

The smart money is thus on the Model Y being an entry-level vehicle for Tesla, and indicative of the fact that everyday people will increasingly be able to afford electric vehicles. If Tesla has produced exciting vehicles in its existence, a downside of the electric car revolution instigated by the company is that Tesla has manufactured expensive technology up to this point in its embryonic lifespan. This could begin to change with the next generation of its vehicles, which will seemingly include both a Model 3 and Model Y.

While Tesla’s share price has been slipping in recent months, the long-term trend of the company could be very much a positive one.