Tesla CEO Elon Musk is ready to finally unveil its next car, the Model Y.

The new crossover vehicle will be revealed March 14 in an event at the Los Angeles Design Studio, Musk said on Twitter Sunday.

The Model Y, as a crossover approaches sports utility vehicle styling while built on car platforms, Musk tweeted, is about 10 percent larger than the Model 3 sedan and will "cost about 10 percent more & have slightly less range for the same battery."

With Model 3 orders often selling for more than $50,000, that could put a typical Model Y in the $55,000 range. Last week, Tesla announced the availability of a more economically priced $35000 Model 3 sedan.

The Model Y, which Musk has hinted at for four years, will share the same platform as the Model 3 to save costs, Musk said in January. The vehicle, he said at the time, would "most likely" be made at the company's battery plant in Reno, Nevada, and "volume production" for the crossover achieved by the end of 2020.

Pricing, styling and specifications – and test rides – would be available at the event, Musk tweeted.

The new crossover will resemble the Model 3 and have normal doors, not falcon-wing doors as on the Model X SUV, he said. In the past, Musk has hinted that the Model Y might have them.

Tesla's first public high-end V3.0 Supercharger Station for charging Tesla's electric vehicles will go live on Wednesday night. Musk did not announce a location for the supercharger station.

This announcement comes after Musk recently declared his plans of selling a base version of the "Model 3" electric sedan for $35,000.

Musk also said that "Y" would closely resemble Model 3, without providing any image, the Forbes report added.