Tesla will unveil its next vehicle, the Model Y crossover SUV, on March 14th in Los Angeles, CEO Elon Musk announced Sunday via Twitter.

Though the Model Y will share about 75% of its parts with the Model 3, but it will boast a larger body and roomier interior. At present, the Model 3 is the most affordable car from the house of Tesla.

“Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more & have slightly less range for same battery,” Musk tweeted. The new electric car will be Tesla’s fifth since the American electric automaker was founded in 2003.

It is worth mentioning here that the Model Y won’t have the falcon-wing rear doors as on Tesla’s bigger SUV, the Model X.

Tesla has plans to build the Model Y at its Gigafactory outside Reno, Nevada. It is expected to enter volume production next year.

More details on the specifications and pricing of the new vehicle should be filtered through during the company’s upcoming event at its design studio in Los Angeles.

Test rides will be available at the event, implying few pre-production prototypes of the Model Y have already been finished by the automaker.

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