SWVL - 10 Things to Know as Tesla Revamps Model 3 With Project 'Highland'
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Recent reports claim that Tesla (NASDAQ:TSLA) is planning to revamp the Model 3 under the secret “Highland” project.
The Tesla Model 3 was first introduced back in 2017 as a more economic option for cost-minded consumers. Since then, the electric vehicle (EV) hasn’t been given any major updates and its age is starting to show.
That’s reportedly why a revamp of the Tesla Model 3 is underway as Project Highland. Let’s get into everything fans of Tesla, as well as TSLA stock investors, need to know about that below!
Tesla Model 3 Revamp
- According to the latest reports, Tesla is aiming to launch the updated Model 3 as early as next year.
- The goal of this redesign is to simplify the interior design while also retaining features that Tesla owners love.
- That includes removing some of the more complex moving parts while still keeping the Tesla display.
- This would allow Tesla to reduce the costs of the Model 3, which makes sense considering the effects inflation is having on markets.
- However, it’s still unclear how much cost will be saved from this and if it will result in customers seeing a lower price.
- The reports also claim that the updated Model 3 will take design cues from the redesigned Model S introduced last year.
- That means we might see the inclusion of the yoke steering wheel introduced in the Model S, but the reports don’t mention it.
- Also included in the reports are claims that the new Model 3 will sport an updated powertrain and exterior changes.
- They also state that the new version of the EV will be manufactured at the company’s Shanghai and Fremont, Calif. plants.
- That could see production start in the third quarter of 2023.
TSLA stock is up 1.7% as of Monday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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