Tesla set to unveil Model Y crossover SUV, Elon Musk says

Tesla Inc. will unveil its new Model Y electric crossover SUV on March 14.

“Model Y unveil event on March 14 at LA Design Studio,” Chief Executive Elon Musk tweeted Sunday.

Last month, Tesla TSLA, -7.84%   said the Model Y will share about 75% of its components with the Model 3, and it expects Model Y production to scale up “significantly faster” than the Model 3. Tesla said that will help reduce the Model Y’s price.

Read: Two federal agencies investigating fatal Tesla crash in Florida

Tesla did not immediately comment Sunday when asked for more details about the Model Y.

In a separate tweet Sunday, Musk said a new version of Tesla’s Supercharger stations will be unveiled to the public this week.

Tesla shares are down more than 11% this year, and down about 12% over the past 12 months, compared to the S&P 500’s SPX, +0.69%   gains of nearly 12% and 4.1%, respectively, over those spans.

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