A Tesla executive has announced that the automaker plans to update its Model S and Model X vehicle programs later this year.
In 2021, Tesla introduced updated versions of the Model S and Model X, its flagship EVs.
The design refresh failed to reignite the vehicle programs. At one point, Tesla envisioned a volume of 100,000 units per year for the two vehicles combined, but that number had fallen to about half as of last year.
Part of that is due to increased competition at the top end of the EV market from companies like Lucid, Rivian, Audi, BMW, Mercedes-Benz, and others, but it is also due to Tesla’s own canabilization with Model 3 and Model Y vehicles getting more love over the last few years.
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