Tesla has no plans to launch a refreshed version of its popular Model Y electric SUV this year, Chief Executive Elon Musk clarified amid intensifying rumors about a potential launch.
Musk shuts down rumors about Tesla Model Y refresh launch
According to Reuters, Tesla CEO Elon Musk officially debunked recent rumors claiming the electric vehicle giant will launch an updated Model Y in 2024.
The Tesla boss further noted in his recent X post that the company “continuously improves its cars.”
“No Model Y ‘refresh’ is coming out this year. I should note that Tesla continuously improves its cars, so even a car that is 6 months newer will be a little better.”
Tesla CEO Elon Musk
For context, CEO Musk’s remarks came in response to an X user who said, “There’s There are rumors going around that the $TSLA Model Y Refresh will be ready by next month… I’m having a hard time believing that.”
Tesla’s current lineup
Tesla’s electric vehicle lineup currently only includes the Model 3, Model Y, Model S, Model X, and Cybertruck.
Tesla produces the Model 3 electric sedan and Model electric crossover in Giga Shanghai, while the other offerings are not.
The Musk-led company started selling the updated Model 3 Highland in the Chinese market on October 19 last year, marking the inaugural major update to the electric sedan. In retrospect, Tesla formally launched the Model 3 in 2017.
On the other hand, March 2023 reports suggest that the company was gearing up for production modifications to the Model Y. It was expected to kick off production in October last year.
EVs in the pipeline
Tesla has been slow to update its ageing EV offerings. Increasing interest rates have discouraged customers from buying expensive models while Chinese rivals launch low-cost products.
In Q1 2024, Tesla’s global vehicle deliveries dropped for the first time in almost four years.
In order to expand its portfolio, Tesla announced several upcoming models to attract more potential customers.
For instance, CEO Musk declared a Robotaxi launch event on August 8. Several reports suggest Tesla will introduce a robotaxi prototype without a steering wheel. However, it probably would not enter production for some time.
In addition, next-gen EVs that would have lower costs and employ revolutionary manufacturing processes seem to have been postponed. Instead, the company plans to produce “affordable” EVs through its already existing manufacturing lines.
In the meantime, Tesla focuses on encouraging shareholders to vote in favour of Elon Musk’s compensation package and incorporation to Texas. Tesla will disclose the vote results at the shareholder meeting on June 13.
