SHANGHAI/SAN FRANCISCO, March 1 (Reuters) – Tesla (TSLA.O) is readying a production revamp of its top-selling Model Y, according to three people with knowledge of the plan.
The changes to the Model Y – code-named Project Juniper at Tesla – involve the exterior and interior of the crossover electric vehicle with a target of starting production in 2024, according to two of the people, who asked not to be identified because the planning remains private.
A revamp of the Model Y would mean Tesla is on track to offer new versions of its top-selling models over the next two years, addressing pressure in markets like China and the United States for a visible reboot of its best-selling vehicles in the face of increasing options for EV buyers.
The automaker has not commented on its product strategy or any planned model changes. Tesla did not immediately comment when asked by Reuters about the plans for the Model Y, which was its best seller in California, China and Europe last year.
Chief Executive Elon Musk has said he will discuss the third part of the EV maker’s “Master Plan” when the company holds an investor day event later on Wednesday.
Tesla has already been working to retool its Shanghai assembly plant to prepare for a revamped version of its Model 3 sedan, a project codenamed Highland by Tesla, Reuters has reported.
The Highland version of the Model 3 is expected to go into production in Shanghai in September, according to a person with knowledge of the matter.
With Highland, Tesla is aiming to cut production costs and boost the appeal of an electric sedan that first went on sale in 2017, people involved in the project have said. There will also be changes to the exterior and powertrain performance with a focus on production efficiency, they said…
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