Tesla to unveil Model Y on March 14, Elon Musk says

Tesla will unveil its Model Y small crossover on March 14 at an event at L.A. Design Studio, Chief Executive Elon Musk said on Sunday.

"Model Y, being an SUV, is about 10 percent bigger than Model 3, so will cost about 10 percent more & have slightly less range for same battery," Musk said in a tweet.

During a Jan. 30 earnings call, Musk said the Model Y would be 76 percent in common with the Model 3. (Model X had far less in common with Model S.) And he indicated it would be built at the Tesla Gigafactory in Sparks, Nev.

In responses on Twitter, Musk indicated the Y would look a lot like the Model 3 and would not have the Model X's falcon-wing doors.

In China, meanwhile, the Shanghai Gigafactory aims to manufacture both Model 3 and Model Y, with annual capacity of 250,000 vehicles.

Tesla earlier this week offered a $35,000 version of its Model 3 sedan and said its global sales would now be online-only, steps designed to increase demand and cut overhead costs for the electric vehicle maker.