Tesla has revealed the new Model Y, a fully electric compact SUV that will cost from £26,000.

The new car will launch in 2020 and is based on the Tesla Model 3 platform, so will offer a cheaper and more simplistic package than the Model X.

It is expected to be the brand’s most popular model.

The Standard Range version will have a 230-mile range and the Long Range will be able to travel up to 300 miles.

There is also going to be Dual-Motor all-wheel-drive and Performance versions offered.

It will be available with seven seats, giving it an edge over similarly sized SUVs such as the BMW X3 and Mercedes GLC.

The Long Range, Dual-Motor and Performance models will launch first, with US sales commencing in Autumn 2020.

UK models are likely to arrive two years later.

The Long Range will cost from £35,500, the Dual Motor (all-wheel-drive) from £38,500 and the Performance model from £45,000 – based on US pricing.

The cheapest, Standard Range, model is expected a year later, priced from £26,000.

Inside, the dashboard is similar to that in the Model 3. A 15-inch touchscreen is used for all the controls and infotainment plus the instruments.

Tesla says the car will provide more than 1,800 litres of storage space with the rear seats folded.

Drivers will be able to unlock and start the Model Y using their smartphone.

Charging times of up to 1,000 miles per hour will be possible using one of Tesla’s third-generation Superchargers.