Tesla is readying a production revamp of its top-selling Model Y, according to three people with knowledge of the plan.
when the company holds an investor day event later on Wednesday.
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. At the investor day event scheduled to be held at its Gigafactory in Texas on Wednesday, Tesla has said it will share details about its next-generation vehicle platforms, which Musk has said would produce a vehicle about half the cost of Tesla's current vehicle underpinings.The leading EV maker has faced increasing competitive pressure in China, its second largest market behind the United States, even after it cut prices.
In contrast to legacy automakers, which have tended to make incremental model-year changes to cars before introducing an all-new version, Tesla has pressed the pace of change in its electric vehicles.
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