Tesla announced in its Q4 report that this year it will start tooling for Model Y production. The upcoming SUV will be most likely produced at the Gigafactory 1 in Nevada, as there is not much space left at the Tesla Factory in Fremont, we guess.

It's expected that the car should be unveiled within months. There is no official hint, but beta prototypes soon probably appear on the roads soon. We are probably no more than a year from the production launch, especially since volume production is to be reached by the end of 2020.

"Additionally, this year we will start tooling for Model Y to achieve volume production by the end of 2020, most likely at Gigafactory 1."

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According to Tesla, the Model Y will share a platform with Model 3 and because of that, about 75% of components will be the same.

It's a great indicator for several things:

development cost will be much lower

production line cost for Model Y should be substantially lower

margins for both cars will be higher because of the higher scale of particular parts

ramp-up phase of Model Y should be much faster

The production rate of the Tesla Model Y electric crossover is expected to be even higher than the Model 3.