At the investor day event scheduled to be held at its Gigafactory in Texas on Wednesday, Tesla has said it will share details about its next-generation vehicle platforms, which Musk has said would produce a vehicle about half the cost of Tesla's current vehicle underpinings. Tesla also said it will discuss long-term expansion plans, capital allocation and other subjects. The leading EV maker has faced increasing competitive pressure in China, its second largest market behind the United States, even after it cut prices. Analysts have said that is in part because it has been seen as lagging competitors in introducing new models, improved navigation or luxe interior touches that car shoppers in the world's largest EV market are seeking. A revamp of the Model Y, first delivered to customers in 2020, would mean production and supply changes for a car now in production in all of Tesla's major hubs: the United States, China and Germany.