By Michael Elkins
Reuters reports Wednesday, citing three people familiar with the matter, that electric vehicle giant Tesla (NASDAQ:TSLA) is readying a production revamp of its top-selling Model Y.
The changes to the Model Y – code-named Project Juniper at Tesla - involve the exterior and interior of the crossover electric vehicle with a target of starting production in 2024, according to two of the people, who asked not to be identified because the planning remains private.
The automaker has not commented on its product strategy or any planned model changes. Chief Executive Elon Musk has said he will discuss the third part of the EV maker's "Master Plan" when the company holds an investor day event later on Wednesday.
Tesla has already been working to retool its Shanghai assembly plant to prepare for a revamped version of its Model 3 sedan, a project codenamed Highland by Tesla. The Highland version of the Model 3 is expected to go into production in Shanghai in September, according to a person with knowledge of the matter.
Tesla has separately asked suppliers for quotes for a revamped version of the Project Juniper version of the Model Y for exterior and interior components that would go into production next year, two of the people said.
The projected start of production is October 2024, according to one of the people.