China lifts Tesla Model 3 import suspension

China lifts Tesla Model 3 import suspension

The Model Y will be unveiled today at a live-streamed event scheduled for 8pm Pacific Daylight Time (2pm Australian Eastern Daylight Time) at the company's design studios in Los Angeles.

The company broke ground on the Shanghai factory in January and its CEO Elon Musk has said the firm aims to finish initial construction this summer and start production of the Model 3 towards the end of the year.

Tesla is on the verge of pulling the wraps of its latest electric vehicle: the Model Y. Elon Musk confirmed the reveal date for the vehicle earlier this month following a whirlwind of Tesla stories involving price cuts and next-generation Superchargers.

A row of new Tesla Model 3 electric vehicles is seen at a parking lot in Richmond, Calif., on June 22, 2018.

Its launch will complete the company founder's joke of having a "sexy" range of cars.

The video posted on the social media network shows the Model Y under a auto cover, revealing the car's silhouette.

The Tesla Model Y will be based on the Model 3. Like the Model X, there also appears to be a small spoiler.

Tesla is teasing the Model Y with an image of its blacked out silhouette to promote Thursday's reveal. Even with the reduced range, Tesla is predicting demand to be perhaps 50 percent higher for the Model Y than the Model 3 owing to the former's crossover body style. It has a sleek tapered front-end with the larger rear and height of a compact crossover/SUV.

Model Y will share 75 per cent of its parts with the Model 3 and will likely be built at Gigafactory 1 in Nevada.

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