The Model Y is an SUV that is 10% bigger than the Model 3, 10% more expensive than it and comes with the same battery pck configuration.

In a significant development, Elon Musk, Tesla’ Inc’s CEO stated, the carmaker will unveil its Model Y on March 14 at an event in LA Design Studio.

“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,” tweeted Musk.

Tesla’s Shanghai Gigafactory, aims to manufacture Model 3 and Model Y cars, with annual capacity of 250,000 vehicles.

Earlier this week, Tesla offered a $35,000 version of its Model 3 sedan saying its global sales would now be online-only.

The online-only model is aimed at cutting overheads and costs while boosting demand.