Papageorgio
The Ultimate Winner
- May 18, 2010
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Almost 300,000 customers have placed a $1,000 down payment for Tesla's low-cost five-seater.
The car will be released next year, with deliveries expected to take place in autumn or winter.
The basic model will start at $35,000 (£24,500) and has a minimum range of 215 miles (346km) on a single charge.
Tesla boss Elon Musk tweeted that 276,000 pre-orders have been received, which could net his firm up to $10bn on completion.
Demand is so high that it may be hard for Tesla to keep up with production - Mr Musk said the company is "definitely going to need to rethink production planning".
Tesla hopes that around 500,000 vehicles a year can be manufactured once production is at full capacity.
Last year Tesla delivered just over 50,000 vehicles, most of which were its Model S saloon car.
Tesla Model 3 Pre-Orders Point To $10bn Sales
My goodness, looks like Elon Musk has done it again. GM may have some competition by 2020.
Two years to get a car? No thanks, the 215 mile range is too limited for this part of the country. My Volt is fine, cost less, I don't need to fill the tank very often and if I want to travel I can drive it for 600 miles and it does well.