Tesla is developing a new Model 3, which will be unveiled at the end of August.

The creation of a new Tesla Model 3, Tesla's most affordable vehicle, would start in the following weeks.

 We've known about the Highland program, the model's next generation, for almost a year.

Tesla shortened delivery schedules for all new Model 3 orders in Europe last October; consumers will not receive the vehicles until the fourth quarter.

Deliveries are not planned until January 2024, and the delay could be related to the upcoming Model 3.

 With a focus on speed and efficiency, it delivers a substantial range in a shorter time span.