Elon Musk volte-face: No new platform for upcoming Tesla Model Y compact SUV

The premium electric cars specialist Tesla Motors released the first teaser image of the upcoming compact SUV, Model Y, in June. CEO Elon Musk reportedly wanted to build the Model Y on a new chassis. However, the rise in demand for compact SUVs seems to have prompted a rethink.

Musk recently said the Model Y electric crossover vehicle will have the same underpinning of the mass market car, the Model 3. The new position represents a change from Musk's past statement on the Model Y. He has previously acknowledged the time and space available to design an entirely new car (Model Y).

However, Tesla enthusiasts need not worry about the development. Apparently, the decision has been taken after a market study that pointed to an industry shift towards SUVs models. The Model Y will enter the market sooner than expected.

"Upon the council of my executive team to reel me back from the cliffs of insanity, the Model Y will, in fact, be using substantial carry over from Model 3 in order to bring it to market faster," The Verge quoted Musk as saying.

In the teaser image, the silhouette looks similar to the Model 3 front angle. However, a closer look will reveal the image is without side mirrors. Tesla wanted to rid mirrors since the Model X, but found itself at cross-purposes with the regulators in most markets. In addition, Model Y is expected to boast of eight cameras for 360 degrees view as well as 12 ultrasonic sensors.