Musk promised investors to start mass production of Model Y next year.

Mass production of electric crossoverTesla Model Y, about which the head of the American company Ilon Mask first spoke back in 2015, will begin by the end of 2020, according to a corporate letter sent to shareholders of the company this week on Wednesday, reports portal TechCrunch. The letter also says that the company will begin building a production line for the new electric vehicle this year. Earlier it was also stated that, unlike other Tesla models, Model Y will most likely be assembled at a huge mega-factory in Nevada.

Musk himself is rather optimistic about the future.Model Y, predicting a new model higher sales compared with Model 3. In addition, the company believes that the cost of production of Model Y will be noticeably lower than that of Model 3, which is collected at the plant in the city of Fremont (California). This is explained by the fact that both models will be built on the same platform - Model Y will use up to 75 percent of the components that are used in the production of Model 3. The letter also indicates expectations of a more rapid growth in the production of the new electric car. Recall that the Model 3 at the start with this problem. Apparently, the company has taken into account all the errors and will try to prevent this in the future.

Production of a new electric crossoverTesla at a mega-factory in Nevada will reduce production risks, as well as logistics costs - no need to spend money on transporting parts from Nevada to California, where Model 3 is assembled, Musk notes in a letter to investors.

"This year should really beexciting for Tesla. Model 3 will become a global product, the profitability of our business should become steadily positive, it should earn a new megavod in Shanghai, and we will start preparing for the production of Model Y, ”the letter says.

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