Undated handout photo of Tesla Inc's Model Y electric sports utility vehicle
Tesla Inc's Model Y electric sports utility vehicle is pictured in this undated handout photo released on March 14, 2019. (Photo: Tesla Motors/Handout via Reuters)

Tesla is currently preparing its launching. Fans are getting excited about the unveiling of its latest model, Model Y. It will be a crossover SUV from the famous electric car company.

Tesla Model Y will surely be the star of the event. This, the coming event will also be a great time for the company of Elon Musk to clear out the turmoil that has been surrounding lately. Also, the company could give some updates.

It was recently reported that Tesla will launch a new 250-kilowatt fast charger. It has been said that the Supercharger can add 75 miles rang in a 5 minutes time of charging. Thus, this major development for the electric vehicle community is such good news. The car company also promised a new battery preconditioning routine, ensuring the batteries of the company's cars are at an ideal temperature to charge when the consumer arrives, according to CNET.

As for the Model Y, the latest product from Tesla will be built on the same platform as the Model 3. It will share about 75% of its components. But that does not mean that they are the same. Thus, Elon Musk confirmed that the latest model will not be featuring with the falcon wing doors, as the company saw this was the problem of Model X.

The pricing and production will also be expected to be announced during the event. Thus, the buyers that are interested in purchasing the Model Y will have to pay a higher premium compared to the Model 3. In line, Elon Musk mentioned on Twitter that buyers will expect the Tesla Model Y to be around 10% higher compared to Tesla Model 3. Presumably, it is due to the increased size Standard Range variant of the vehicle.

Meanwhile, during Tesla's last fourth-quarter earnings call, Elon Musk mentioned that the electric car company will be considering a Gigafactory 1. It will be in Sparks, Nevada and will be a home base for the Model Y.

This will be an odd decision for the company, since the CUV shares components from Model 3, which is assembled in Fremont, California. The production for the Model Y is expected to start by the end of 2019 and is expected to reach full volume by December 2020, according to The Drive.

As follows, Elon Musk is expecting the Model Y to have a demand of at least 50% higher than the Model 3. He then mentioned that the worldwide demand for Model 3 I more or less 500,000 units per year.