Report: A new Tesla Model 3 is coming early next year

Report: A new Tesla Model 3 is coming early next year

Tesla fans, rejoice: A new Model 3 could be coming your way. According to a Reuters report, the Model 3 is set for a major facelift that could arrive as early as next year. According to four unnamed sources, the project is reportedly codenamed “Highland” and development is underway to boost the Model 3’s appeal and cut costs.

The Model 3 has been in production since 2017 and has been largely unaffected in its five years on the market. Only now are rivals starting to develop compact EV sedans of their own. BMW released the i4 electric sedan earlier this year, and the Hyundai Ioniq 6 is on the way. However, the Model 3 has remained largely unchanged since its release, and a Reuters report says that the Model 3’s improvements are focused on improving value for Tesla customers, including the display.

Tesla Model 3 Exterior

But the changes to the Model 3 will be more than skin-deep, and the report also says that Tesla is looking to cut costs as well. The company is said to be considering ways to simplify elements of the interior and production of the car to make the Model 3 more cost-effective. The Model 3 is Tesla’s most popular car, and it’s no surprise the automaker would look for ways to save money and increase margins on such a high-volume vehicle.

The unnamed sources also tell Reuters that production of the new Model 3 will be built at Tesla’s factories in Shanghai, China, and Fremont, California. He also said that in the Gigafactory Shanghai The new car will be revamped to support it, and that production could start by the end of next year.

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