Tesla readies revamp of big-selling Model Y SUV

STORY: Tesla is readying a revamp of its big-selling Model Y SUV.

That’s according to Reuters sources familiar with the plan.

They say the changes are code-named Project Juniper.

It’s likely to see updates to the interior and exterior of the popular crossover.

Production of the new version is expected to start next year.

And the revamp would mean Tesla is on track to offer new versions of both its best-selling cars over the next two years.

Reuters has earlier reported that the firm is retooling its Shanghai plant to produce an updated Model 3 sedan.

That is expected to go into production in September.

The new versions come as Tesla battles mounting competition in key markets like China and the U.S.

Analysts say Chinese buyers view the brand as lagging on new features, technology and luxury touches.

The revamps are also meant to boost production efficiency for the vehicles.

Unlike legacy automakers, Tesla has never shied away from making frequent updates to its vehicles.

It frequently rolls out changes to software or hardware to improve performance or reduce production costs.