Tesla Reportedly Shrinks Model 3 'Frunk,' Leading To Speculations Over Heat Pump

Tesla Inc TSLA has made changes to internal design in its Model 3 electric vehicles, according to a Electrek report Sunday.

What Happened: The Elon Musk-led company has reportedly modified the front trunk, sometimes referred to as "frunk," with a new design that makes it smaller compared to the earlier manufactured versions of Model 3.

Social media users speculated that Tesla could have made the design change with plans to add a heat pump to the model in near future. A smaller frunk would allow for an additional heat pump on the front side.

The automaker is yet to make any public announcement or reflect the changes in the Model 3 catalog.

Why It Matters: Tesla’s manufacturing unit in Shanghai came out with a strong throughput for the Model 3 vehicles despite the COVID-19 outbreak. Model 3 sales in the month of June were at a peak in Shenzhen, Beijing, and Shanghai. The company sold over 6,000 units in these cities, compared to around 1,300 units by its leading competitors in this region.

Price Movement: Tesla shares traded 3.4% higher at $2,120 in the pre-market session Monday.