Tesla's expansion strategy to be led by Model Y

The next vehicle after the midsize Model 3 sedan will be the Model Y - not its official name - but it is believed to use much of the Model 3's engineering and architecture, remixing it into a compact crossover body style.

The company wants to introduce numerous models in the coming years.

On sale late 2019 or early 2020, the Model Y is set to come with both the bigger Model X "falcon wing" doors and Tesla's controversial semi-autonomous cruise control, Autocar reports. They were testing a Tesla Model 3 prototype, cruising up and down the street outside our office.

Around seven million crossovers of all types were sold in the United States previous year and the demand for such vehicles is increasing around the world.

Tesla has not officially said anything much about it yet, but the new Tesla Model Y SUV has been revealed in concepts.

Pilot production for the Model 3 only began in February, which means that the Model 3 in the video was likely hand-built specifically for the unveiling held in March 2016.

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One approaching and unanswered question about the Telsa Model 3 is the dashboard in the centers, and on how it ultimately look like. According to Musk, Tesla plans to show off the prototype versions of the electric pickup truck and semi later this year.

Tesla Korea, the local distributor of Tesla cars, opened its first showroom in South Korea on Wednesday, offering a chance for local customers to see and experience its advanced electric vehicles.

The Model Y is part of the corporation's plans to increase annual vehicle production. Well this can be expected from the Model Y as it will be a compact crossover model.

Tesla chairman and CEO Elon Musk will buy $25 million of common stock.

While the Model 3 will run 215 miles on a full charge, the Model Y is expected to run 238 miles on a single charge.