According to sources familiar with the matter, Tesla is gearing up to introduce a significantly updated version of its popular Model Y from its Shanghai plant, reports Bloomberg.
The American electric vehicle giant is currently undertaking preparatory work in China for the launch of the refreshed Model Y SUV. Insiders, who requested anonymity due to the confidentiality of the information, indicate that mass production could commence as early as mid-2024.
The 2024 Model Y is expected to feature more pronounced exterior and interior changes compared to the recent update in October, which included a new wheel design and ambient lighting. These sources, however, refrained from providing further details.
Tesla’s Shanghai factory, established in 2019, has been a pivotal production hub, accounting for over half of the company’s global deliveries. The Model Y, first introduced in 2020, has achieved significant popularity, ranking among the top-selling electric vehicles globally. In China, the Model Y represents nearly three-quarters of Tesla’s sales, as per Bloomberg Intelligence data.
The forthcoming batch of the new Model Ys will originate from the second phase of the Shanghai facility, which is slated for a temporary shutdown of about a week during the New Year holiday for partial upgrades. Further adjustments are anticipated before the start of mass production.
Tesla’s move comes as domestic competitors like BYD and Xpeng intensify their efforts with new vehicle launches, aiming to capture a larger market share. Shenzhen-based BYD is on track to overtake Tesla as the global leader in fully electric vehicle sales, potentially within the current quarter.
This update follows Tesla’s earlier revamp of its six-year-old Model 3 sedan, which featured a sleeker design and extended range, as part of the ‘Highland’ update.
Back in March, it was reported the equivalent ‘Highland’ refresh for the Model Y was known as ‘Juniper’. In July, Tesla registered for a ‘Highland’ Model 3 and Model Y in China.
The surge in new-energy vehicle sales in China, which encompasses plug-in hybrids and pure-electric cars, has been notable. In November, these sales increased by 40% year-over-year and 8.9% from October, reaching 841,000 units, as reported by China’s Passenger Car Association.
