Tesla CEO Elon Musk has laid out many production details about the upcoming Tesla Model Y electric SUV. Potentially, the new car might have a faster production cycle than the Tesla’s Model 3 sedan. Here's why the Tesla Model Y might be released sooner than expected.

According to Musk’s Twitter and other announcements, 75 percent of the Tesla Model Y's parts and components will be similar to that of the Model 3. Since the Model 3 has been out for a while now, its parts are readily available so the manufacturers will require a shorter time when it comes to producing the Model Y.

Since it is likely that Tesla’s production of the Model Y will be faster and cheaper compared to that of other models, the Tesla car may also come with a relatively cheap price tag. But while it does use parts of a sedan, the Model Y is confirmed to be a larger SUV that will be 10 percent bigger than Tesla's popular sedan, according to the CEO.

In addition, Musk also confirmed that the first set of Model Y vehicles will be made at the Tesla Gigafactory 1 in Nevada. As this is a Tesla major factory, time needed for transporting supplies and development would also be cut down, and the company could easily get started on the production of this new car.

Even before its official unveiling, the Tesla Model Y already has some competitors in several electric SUVs set to be released in the coming months. The Byton M-Byte and Porsche Macan are two of the electric SUVs about to enter the market and will come with their own set of features and specialties that could potentially rival the Model Y.

Despite its production advantages, the Model Y is not expected to be available in the market until next year. Previously, it was rumored that the car may be ready for purchase in the early months of this year.

But fans won't have to wait too long as Tesla will unveil the Model Y this March 14. Important details, such as the official release date and the full specs of the car, will be revealed on this date. Interested buyers can definitely size up the car once Tesla starts talking about the actual details of the Model Y instead of the vague teasers they've been reading about for months.