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Tesla project ‘Highland’ to bring changes to Model 3, Chevrolet unveils EV sports sedan

Yahoo Finance autos reporter Pras Subramanian details Tesla's newest update to its Model 3 and Chevrolet FNR-XE new EV sports sedan.

Video Transcript

JARED BLIKRE: Tesla is developing a new version of the Model 3 according to a new report codenamed Highland. The redesign is rumored to bring a number of changes to the electric sedan. Yahoo Finance senior autos reporter Pras Subramanian has more, Pras.

PRAS SUBRAMANIAN: Yeah, Jared, this is a kind of a much needed update for the Tesla Model 3, which has surprisingly been out since 2017 without an area and update. We've probably seen a couple of things under the skin but nothing major. What Reuters is reporting is that Tesla is going to probably update the exterior styling, potentially the powertrain and battery and likely that touchscreen display that's very popular with customers. And it sort of sets the car apart with the kind of minimalist and digital sort of cockpit there.

One of the things that Tesla will do is reduce costs of building the car by reducing complexity and also using larger cast moldings that we've seen them use in the Model Y, for instance, to kind of reduce number of parts. So you know, Reuters also says that this car might come out in 2023 of Q3, pricing that first in China and then eventually potentially at Fremont here in the United States.

DAVID HOLLERITH: Interesting. And Pras, Chevy unveiled another EV. What can you tell us about it?

PRAS SUBRAMANIAN: Well, this one is going to be in China, Dave. It's the Chevy FNR-XE. It's funny because GM does not have an EV sedan in the States, or one coming as far as we know. But they're going to do it in China because in China, apparently the sedan sort of body type is still very popular there amongst the people there.

It's very sharp-looking car. You can see there both literally and sort of figuratively, right, so really kind of sort of the new design language of Chevy EVs potentially here, looking at this with the FNR-XE. No specs yet, but reports in China suggest it'll come out probably next year. And this is big because 2023 is a big year for GM with regard to this EV onslaught with stuff like the Equinox, the Chevy Silverado EV, and also the Blazer as well.

JARED BLIKRE: All right, got to leave it there. Pras Subramanian, thanks as always for that report.