SAN FRANCISCO (Reuters) – Tesla Inc unveiled its Model Y electric sports utility vehicle on Thursday evening in California, promising a much-awaited crossover that will face competition from European car makers rolling out their own electric rivals.

Tesla Inc’s Model Y electric sports utility vehicle is pictured in this undated handout photo released on March 14, 2019. Tesla Motors/Handout via Reuters

Chief Executive Elon Musk said the compact SUV, built on the same platform as the Model 3, would first debut in a long-range version with a range of 300 miles (482 km) priced at $47,000.

A standard version, to be available sometime in 2021, would cost $39,000, with a 230-mile range. The vehicles can be configured to include 7 seats for an additional $3,000.

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