Tesla Is Preparing Fremont Factory For Model 3 Refresh: Report - Tesla (NASDAQ:TSLA)

Rumors of Tesla Inc's (NASDAQ:TSLA) project Highland Model 3 revamp surfaced last week, and it seems the updated Model 3 vehicles may be here sooner than expected.

Soon after the rumors circulated, a Model 3 with camoflaouge was seen driving around California. The project is supposedly aimed at increasing the efficiency of the production process for the Model 3 and cutting costs.

Now documents discovered by Teslarati show that Tesla has begun preparing to make changes to its Fremont, California factory to get ready for production of the updated Model 3.

The project will reportedly involve the installation of new equipment and automation, as well as upgrades to existing machinery. This is expected to result in a faster production process and lower production costs.

Tesla's Model 3 was the company's flagship vehicle until the Model Y came along, which now outsells the 3 in most markets. With the new project, the company hopes to make the Model 3 more affordable and increase its production capacity. This will allow Tesla to better compete with other automakers in the electric car market.

Photo courtesy of Tesla.

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