On his social media account, Tesla CEO Elon Musk said that the company plans to reveal a new product which he considers as the firm's "most unexpected" yet on October 17. Consequently, that statement of the CEO has sparked a number of speculations from the public.

There are rumors that it could be a modified version of Tesla's Model X SUV, a vehicle many are implying to as the Model Y. After all, Musk has teased plans for a Tesla heavy-duty cargo pick up trucks for freight shipping and some sort of mass transit vehicle.

Speculations are also spreading that the company will unveil a new sophisticated "triple camera" that has a main, narrow and wide angle lens, which separates image processing, improving Version 8.0 of Tesla's Autopilot. If rumors prove true, Tesla would be able to make its vehicles even safer than before.

As much the the premise of a Tesla heavy-duty vehicle is interesting, Value walk stated that Elon Musk has confirmed that the name Model Y will be based on the Model 3 chassis. Thus, the Model Y is expected to hit the scene in late 2017 or early 2018, making its rumored announcement on October 17 a little unlikely.

Rumors state that the Model Y will be a compact SUV inspired by the Model X, but without the falcon-wing doors. It is said to be priced at slightly higher than Model 3, which is designed as the EV-maker's "car for the masses."

According to Teslarati, another possibility for a new product, though more far-fetched, is the addition of a cost-effective LIDAR system to augment Autopilot's suite of sensors. Industry experts within the field of autonomous vehicles, most notably Google, believe LIDAR sensors are critical for producing accurate in-depth 3D maps of a vehicle's surroundings, leading to safer and more reliable self-driving technology.

Amid all the speculation, it appears that the answers to the Model Y rumors, as well as speculations about new safety features of the vehicles, would probably all be addressed on Monday.