About 75% of the parts will be identical to the Model 3 parts, which includes the battery, motors and most of the electronics. So let's get into the most important (new) features of Model Y:
[1] Model Y has 66 cubic feet of cargo space. This is on par with the ICE competition, even though the body seems much slimmer and the battery pack usually takes up more space than a traditional ICE (Internal Combustion Engine) and gas tank.
This is partly achieved by the deeper frunk and trunk.
[2] Model Y will have a trailer hitch. It was promised for Model 3, some aftermarket solutions are available, but it makes more sense to keep this feature for the Model Y and X.
[3] All seats in the Model Y are raised by more than 1", allowing you to sit more comfortably than in Model 3.
[4] The panoramic roof has a bigger, uninterrupted middle piece, just like the newest version of Model S.
[5] Powered liftgate for the trunk, which is absent from Model 3. This minor convenience feature is very practical when you're shopping alone and your hands are full as you're coming towards the car.
[6] Insane, best in class acceleration 0-60mph in 3.5 seconds.