Tesla Model 3 2024: revamped sedan reportedly in the works

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Five years after the Model 3 was first introduced to the American market, Tesla is reportedly looking to update the electric sedan and cut production costs.

News of this updated Model 3 comes courtesy of a Reuters report, where “four people with knowledge of the effort” shed some light on the project. 

Said to be codenamed “Highland”, a main focus of this redesign is reducing the complexities of the Model 3’s interior, including the large display mounted in the centre of the dash. 

Reports of this upcoming revamp are quite timely, considering that the Model 3 is facing increasing amounts of competition in the affordable EV segment, from the likes of the Polestar 2 liftback as well as the the Hyundai Ioniq 5 and the Kia EV6 midsize SUVs. 

What changes are coming to the Tesla Model 3?

Considering that the source of this leak wishes to remain anonymous, it should be no surprise to hear that details have remained scarce surrounding the specific changes.

Despite this, the recent revamp of the Model S could shed some light, as the larger sedan dropped its steering wheel in favour of a yoke, removed air vents and buttons to create a far more simple interior. 

On top of this, a digital cluster behind the steering yoke was also added, which displays driving information.

This simplistic theme continued on the outside of the Model S, where it got new wheels, headlights, and dropped the trim that sits above the rear number plate. 

Late last year, Tesla revealed a minor update for the Model 3, which extended the driving range, included new 19-inch wheels, and deleted the chrome trim. 

Will the Model 3 get cheaper after the update? 

Though no word surrounding the updated Model 3 pricing has been revealed, it’s clear that reducing production costs is an aim with this revamp.

In an interview with Baron Funds earlier this month, Elon Musk said that costs would be reduced through simplification, and working on a small car platform that would sit beneath the Model 3. 

“Over and over, we found parts that are not needed. They were put in there just in case or by mistake. We eliminated so many parts from a car that did nothing,” Musk said. 

According to the Reuters report, the source stated that the redesigned Model 3 will be put into production at Tesla’s ‘Gigafactory’ in Shanghai during the third quarter of 2023. 

Tesla Model 3 2022: prices in Australia

All prices listed are before on-road costs.

• Rear-Wheel Drive: $65,500
• Long Range: $80,000
• Performance: $91,600