Model 3 and Y have given Tesla the most success in comparison to their other offerings. Tesla is looking forward to fine-tuning the Model 3 in order to compete with a slew of newer and cheaper electric vehicles from competitors.
Tesla intends to redesign the Model 3 with the aim of reducing manufacturing costs by limiting the number of components and overall complexity. According to four people who spoke anonymously to Reuters, the Highland redesign will focus on what buyers care about most, including display and performance. Highland would go into production in the third quarter of 2023 at Tesla’s factories in Fremont, California, and Shanghai, China.
So far, the Model 3 is Tesla’s most affordable vehicle, with prices starting at $46,990. It is also their number two best-selling electric vehicle in the United States, trailing only Tesla’s larger Model Y SUV.
The Model 3 will reportedly be inspired by the Model S redesign from last year. The airplane-style yoke steering wheel and fewer buttons will be included.
With Tesla stock down 50% since Elon Musk’s purchase of Twitter and stiff competition from the likes of the Hyundai Ioniq, which won the World Car Award, the Model 3 redesign is probably the right decision to get things moving in the positive direction again.