Tesla (TSLA) stock is on the rise in early trade despite a broader market selloff, and general weakness in the stock lately. Here’s what’s moving Tesla today:

Updated Model 3 on the way?

According to reports from Reuters, Tesla is in the process of updating its Model 3 sedan, which first came out back in 2017. Codenamed project “Highland,” Tesla is aiming to cut production costs for the Model 3 and increase the appeal of the sedan by revamping the car's exterior, powertrain, and interior components, such as its massive center-console display. Tesla would reduce costs by reducing complexity overall.

Though the Model 3 has been periodically updated with under-the-skin enhancements to mechanical components and battery materials, this would be the first major revamp of the car, if it does go through. Premium Tesla models like the Model S and Model Y have been revamped with exterior styling, new touchscreen tablets, and yoke steering wheels.

Per Reuters, the redesigned Model 3 would go into production in Q3 2023 first at Tesla’s Giga Shanghai factory, then eventually at its main U.S. plant in Fremont, CA.

Tesla Semi conducts crucial test

With all eyes on Tesla’s biggest EV, the Tesla Semi, this week at its first delivery event at Giga Nevada, CEO Elon Musk confirmed the truck hit a big milestone.

In a tweet, Tesla Musk said the Semi completed a 500-mile drive with a full payload of 81,000 lbs.

The Tesla Semi is an all-electric Class 8 commercial tractor trailer, and the federally-allowed limit for Class 8 trucks is 80,000 total pounds of gross vehicle weight.

Based on Musk’s tweet, it is assumed that the Tesla Semi completed this 500-mile drive on one full charge, but this could not be confirmed. It is also not clear how much of the 81,000 lbs consisted of the Semi itself and its battery weight.

Nonetheless, it is a milestone for the Tesla Semi, which also debuted in 2017, and was supposed to go into production in 2019 but has subsequently suffered numerous delays.