Tesla's (TSLA.US) highly anticipated Model Y has finally made its debut in the US, with a starting price of nearly $60,000.

Tesla (TSLA.US) on Thursday unveiled the new long-range all-wheel drive version of its Model Y in the US, Canada, and Europe, weeks after its initial launch in China. The new Model Y is priced at $59,990 in the US, a 25% increase from the previous generation's $47,990. Deliveries are scheduled to begin in March. The new model comes equipped with "Supervised Full Self Driving", an option previously available for the Model Y at $8,000. With the launch of the new model, Tesla now offers four versions of the Model Y in the US, with the new one being the most expensive, even topping the Performance version. The new model also features a redesigned exterior and upgraded interior features, with a slightly extended range to 320 miles (515 km), according to Tesla. Tesla first launched the Model Y in 2020 and it became the world's best-selling car in 2023. The older version lost some sales momentum last year due to competition from Chinese rivals and a slowdown in demand for electric vehicles in other markets.