New reports state that Tesla is now working on a Model Y refresh, which will be called "Juniper," as reported by Electrek.

Juniper

It is not a secret that the automaker is working on a Model 3 refresh because several prototypes have been sighted for the last three months. Things are becoming more interesting when Reuters released a report that a Model Y refresh is so close-we can almost touch it. 

According to the media company, the changes to Project Juniper at Tesla involves exterior and interior with the target of starting production in 2024. Additionally, there are reported that the automaker has 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. 

It can be recalled that the Model Y went into production in 2020 but didn't ramp up significantly until 2021. 

There are also reports that the automaker is aiming at a more minimalistic look that will focus on the features that drivers actually use in the car, aside from a new, large central display console. 

Also read: Tesla Model Y Production Units Appear Ready for Deliveries in Giga Texas Drone Shot

What Elon Musk Has to Say

CEO Elon Musk said that he will discuss the third part of the Master Plan when the company holds an investor day event. Tesla will also discuss long-term expansion plans, capital allocation, and other subjects. 

The automaker has been working to retool its Shanghai assembly plant to prep for a revamped version of its Model 3 sedan, which is a projected called "Highland." The Highland version of the Model 3 is expected to go into production in Shanghai in September. 

With Highland, Tesla aims to cut production costs and make it more appealing that the first one that went on sale in 2017. 

Increased Competitive Pressure in China

Tesla is facing increased competitive pressure in China from local rivals such as NIO and Xpeng, who are offering more affordable electric vehicles. Tesla is also facing increased scrutiny from Chinese regulators, which is forcing the automaker to make changes to its operations in the country in order to stay competitive.

Tesla is making its vehicles more affordable and help increase their appeal in the Chinese market, Elon Musk said that the company is working on new technologies to reduce costs, such as battery and vehicle technology. He also said that Tesla is working on a new software platform that will enable customers to customize their vehicles. 

Tesla is also investing heavily in autonomous driving technology, with the goal of developing fully autonomous vehicles in the near future. By investing in autonomous driving technologies, Tesla hopes to reduce the cost of its vehicles and make them more attractive to consumers.

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