Tesla Model 3 will be redesigned to be more cost-effective.

Tesla, according to media reports, is working on a redesigned Model 3. Highland is the codename for the updated Tesla Model 3.

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The Model 3 is expected to be based on the 2021 Model S.

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Tesla has yet to confirm whether the new model will receive the contentious 'yoke steering' from its more expensive sibling.

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According to reports, the new Tesla Model 3 will be produced at both the company's Shanghai Gigafactory and its Freemont facility.

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Production is expected to begin in the third quarter of 2023.

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However, reports do not specify how much Tesla will save in production costs as a result of the redesign, or whether the benefits will be passed on to customers.

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The redesign isn't limited to the underpinnings, as reports indicate that the car's exterior, interior, and powertrain performance will all be improved.

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It is also unclear whether the upcoming Tesla Model 3 will use the company's next-generation 4680 battery cells.

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