Bloomberg reports that today, Tesla is unveiling the new Model 3. Prior rumors indicated that the company had already started assembling these vehicles at the Gigafactory Shanghai, and now we can anticipate the arrival of the finalized prototypes.

The updated Tesla Model 3 not only showcases a different design but also boasts enhanced specifications. Moreover, the electric car might become more affordable, thanks to a novel manufacturing process.

We can expect the refreshed Tesla Model 3 to make its debut in June. Artists have provided visual representations of the potential appearance of the new electric vehicle.

Dubbed Project Highland, the updated Tesla Model 3 will feature a sleeker design. Notably, the front bumper will no longer include fog lights.

Narrower headlights will be introduced at the front, as evidenced by a snapshot of a test prototype.

The interior of the electric vehicle will also undergo modifications. The Tesla Model 3 may adopt the instrument panel from the Model X electric crossover. Currently, the existing model only includes a central display.

In place of a gear selector mounted on the steering column, the updated Tesla Model 3 will enable gear selection through the central display, as observed in one of the test vehicles.

The interior materials of the electric car will be revised. Wood will be substituted with fabric inserts, and new seat options will be offered.

The new Tesla Model 3 is expected to deliver increased power and speed. The electric car's range is anticipated to reach around 640 km in the Long Range version.

Thanks to the new production process, the updated Tesla Model 3 may become more affordable. Rumors suggest a potential price reduction of approximately 20%.

The significance of the new Model 3 for Tesla cannot be overstated. It is one of the company's top-selling cars and among the most popular electric vehicles worldwide. Unofficial renderings indicate that the exterior of the car may undergo substantial changes while still maintaining Tesla's distinctive style.