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Tesla Soars 4% Tuesday on Model Y News, Autopilot Update –

Tesla Inc. (NASDAQ:TSLA ) stock soared over 4% on Tuesday as news broke that the company will introduce its Model Y SUV by 2020. The highly anticipated SUV was first mentioned in July 2016 by CEO Elon Musk when he announced plans to bring a compact SUV to the market.

The vehicle will add to the company’s pipeline, which will have its first mass-market vehicle, the Model 3, introduced by the end of the year.

Musk broke the news that the Model Y will be introduced to the public in late 2019 or sometime in 2020. The announcement came during the company’s first-quarter earnings call and is the first time the CEO has shared a timeline for the vehicle’s release with the public.



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