The Tesla electric car logo is shown during a display of alternative energy vehicles on Capitol Hill June 12, 2008 in Washington, D.C.
Win McNamee—Getty Images
By Alex Fitzpatrick
September 29, 2015

Tesla delivered its first Model X SUV Tuesday night at an event at its Fremont, Calif., headquarters.

The Model X is Tesla’s first SUV, coming on the heels of the Tesla Model S sports sedan. The new SUV could generate interest among new customers interested in all-electric vehicles but who want something larger than the Model S. As Fortune’s Katie Fehrenbacher writes, Tesla is leaning on the Model X to bring in new revenue while it builds its next vehicle, a cheaper Model S alternative called the Model 3:

But importantly, Tesla is relying on the Model X to deliver needed revenue as it tries to get its next vehicle, the cheaper Model 3, to customers. And the company has been spending a massive amount of money trying to do that.


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