Leading American electric automaker Tesla is reportedly planning to launch the revamped Model Y next year from the Gigafactory Shanghai in China, Bloomberg reports, citing people familiar with the matter.
Report highlights
The report’s unnamed sources claim that the Musk-led automaker has already started preparing for the mass production of the revamped Model Y SUV, which is expected to kick off in Giga Shanghai by mid-2024.
“The US electric carmaker is currently conducting preparation work in China for its refreshed Model Y sport utility vehicle and mass production may start as soon as mid-2024, the people said, asking not to be identified because the information isn’t public.”
Bloomberg
Interestingly, it further indicated that the first batch of the new Model Ys will likely follow the upgrade of the Giga Shanghai during the holiday.
“The first batch of the newest Model Ys will be made from the second phase of Tesla’s Shanghai facility, which will suspend production for around a week during the New Year holiday for a partial upgrade, one of the people said. More adjustments will have to be made prior to mass production, they added.”
Bloomberg
It remains vague if the sources refer to the New Year holiday this coming week or the Chinese Lunar New Year in February.
Excitingly, the revamped Model Y will reportedly feature more apparent exterior and interior upgrades compared to the SUV’s update in the Chinese market last October. In hindsight, it only had new ambient lighting and few performance upgrades at that time.
That said, this speculated revamped Tesla Model Y will likely be the highly awaited “Project Juniper.”
Giga Shanghai’s production prowess
Tesla built the Gigafactory Shanghai in 2019. It continuously grew to become the automaker’s largest production hub globally. In fact, it produces more than 50% of the EV giant’s global deliveries.
Its production line initially rolled out the current top-selling vehicle in the world, the Tesla Model Y, in 2020. The model apparently contributed nearly 75% of the company’s overall sales in China, Bloomberg Intelligence’s data compilation reveals.
Before the revamped Tesla Model Y, the Musk-led company introduced the refreshed Model 3 Highland with a sleeker appearance and longer range to boost customer demand this year. That said, it would be intriguing to watch the imminent transition of the Model Y, which currently serves as the company’s “cash cow.” It can significantly aid Tesla in delivering a strong performance in 2024.
