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.
See the Factory Where Tesla Is Building its New SUV
More Must-Reads from TIME
- Cybersecurity Experts Are Sounding the Alarm on DOGE
- Meet the 2025 Women of the Year
- The Harsh Truth About Disability Inclusion
- Why Do More Young Adults Have Cancer?
- Colman Domingo Leads With Radical Love
- How to Get Better at Doing Things Alone
- Michelle Zauner Stares Down the Darkness
Contact us at letters@time.com