It will seat seven - something that Tesla has been enthusiastic in offering - so it's cutting right into the heart of a popular segment of the market.
The Tesla Model Y will come in a number of different variants, starting at $39,000 for the standard model which will offer 242 miles range, 0-60mph in 5.9 seconds and is rear-wheel drive.
There will be all-wheel drive and extended range options, topping out with a Performance model offering 298 miles and a 0-60mph time of 3.5 seconds, with a dual motor arrangement driving the front and rear wheels.
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The Tesla Model Y will be compatible with Tesla's gen-three Supercharger network, meaning speedy charging to keep you on the road.
In terms of the design, the Model Y owes a lot to the Model 3, with a central 15-inch display, panoramic glass roof and conventional doors, rather than the gull-wing doors of the Model X.
You can expect all the normal Tesla features, including a number of safety features like collision warning and emergency braking as standard, as well as some self-driving capabilities.
Tesla is also targeting 2020 to get the Model Y on the road, but has so far struggled to match the demand and scale up production for its electric cars. With big announcements expected from companies like Volkswagen in 2019, Tesla is now racing against the clock to get its cars on the road ahead of the competition.
You can configure your Model Y and register your interest over on the Tesla website.