Tesla to showcase its much-awaited Model Y on March 14

Elon Musk has announced that Tesla will be launching the long-awaited Model Y crossover on March 14, at the LA Design Studio. Also, the company might unveil the first "v3.0" Supercharger station to switch on March 6th at 8 PM Pacific. Musk didn't reveal anything apart from that but has already caused a stir with the latest announcement.

The Model Y is expected to be the affordable version of the Model X. The car will borrow some of Model 3's features, but more suited for the SUV crowd. There's no confirmation on the number of components the Model Y will share with the 3, although there might be many in order to keep the production steady.

Musk also tweeted additional details about the Model Y. He noted that the car will be "about 10% bigger" than the Model 3, and will be priced proportionately higher. Besides, it will pack "slightly less range" with similar batteries, Musk said.

Previously, Elon Musk made all the Tesla patents public, as an effort to fight climate change. In a blog post, the billionaire said that the company "will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology."

"Tesla Motors was created to accelerate the advent of sustainable transport," Musk said. "If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal."