diff --git a/class/defaults.yml b/class/defaults.yml
index a01542b..313eefe 100644
--- a/class/defaults.yml
+++ b/class/defaults.yml
@@ -10,11 +10,11 @@ parameters:
       provider:
         registry: ghcr.io
         image: appuio/machine-api-provider-cloudscale
-        tag: v0.3.0
+        tag: v0.4.0
       machine_api_controllers_manager:
         registry: ghcr.io
         image: appuio/machine-api-provider-cloudscale
-        tag: v0.3.0
+        tag: v0.4.0
       kube_rbac_proxy:
         registry: quay.io
         image: brancz/kube-rbac-proxy
diff --git a/tests/golden/defaults/machine-api-provider-cloudscale/machine-api-provider-cloudscale/11_deployment.yaml b/tests/golden/defaults/machine-api-provider-cloudscale/machine-api-provider-cloudscale/11_deployment.yaml
index 88543e1..615b568 100644
--- a/tests/golden/defaults/machine-api-provider-cloudscale/machine-api-provider-cloudscale/11_deployment.yaml
+++ b/tests/golden/defaults/machine-api-provider-cloudscale/machine-api-provider-cloudscale/11_deployment.yaml
@@ -35,7 +35,7 @@ spec:
           command:
             - machine-api-provider-cloudscale
             - -target=manager
-          image: ghcr.io/appuio/machine-api-provider-cloudscale:v0.3.0
+          image: ghcr.io/appuio/machine-api-provider-cloudscale:v0.4.0
           imagePullPolicy: IfNotPresent
           livenessProbe:
             httpGet:
@@ -67,7 +67,7 @@ spec:
           command:
             - machine-api-provider-cloudscale
             - -target=machine-api-controllers-manager
-          image: ghcr.io/appuio/machine-api-provider-cloudscale:v0.3.0
+          image: ghcr.io/appuio/machine-api-provider-cloudscale:v0.4.0
           imagePullPolicy: IfNotPresent
           livenessProbe:
             httpGet: