The compact Model Y crossover will fill a gap in the Palo Alto electric vehicle-maker's lineup and is intended to further its reach into the mass market. But can Tesla deliver on any promises Musk makes for when the vehicle will be ready?
The event is being held at Tesla’s L.A. Design Studio in Hawthorne, where the long-awaited Model 3 was unveiled in 2016 to a crowd of 800 and countless others watching via live stream.
In addition to the Model 3, the company sells the Model S luxury sedan and the Model X luxury SUV. But it lacks a smaller crossover SUV, which has emerged as one of the hottest styles in the automotive industry.
This month, Tesla was forced to make a $920-million payment to retire convertible bonds that were due. Had the company’s share price, which closed Thursday at $289.96, remained at $360 or above,could have been converted into stock. The company reported having $3.7 billion in cash at the end of 2018 and faces another $183-million debt payment next month.
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