Hyperdrive
Tesla Sinks After Model Y Unveiling Rekindles Concerns Over Cash
- Standard $39,000 version is expected to be available in 2021
- At the event, Musk talked more about travails than the car
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Elon Musk’s unveiling of a new electric vehicle that Tesla Inc. won’t deliver to customers for another year and a half rekindled concerns about the company’s cash position.
The Model Y crossover that the chief executive officer debuted late Thursday in Hawthorne, California, will start being delivered to customers in the fall of next year. The company immediately began taking $2,500 pre-orders, a bigger ask than the $1,000 it charged at first to reserve a Model 3 sedan.