(Bloomberg) — Tesla Inc. Chief Executive Officer Elon Musk unveiled a cheaper electric crossover SUV, the Model Y, in a bid to regain momentum after a rough start to the year.

Taking the stage at the company’s design studio in Hawthorne, California, Musk showed off a blue prototype of the mid-sized SUV, which is roughly 10 percent roomier than its best-selling sedan. Three higher-end versions of the new vehicle will start delivery in Fall 2020, with a standard one available in Spring 2021, priced at $39,000 and equipped with a 230-mile battery, according to the company.

Getting the new vehicle into production quickly will be key for Tesla to build on the momentum of its Model 3, a less-expensive sedan that’s catapulted the automaker up the sales

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