Tesla (TSLA) Debuts New Model 3; Pre-Orders Surpass 150k Mark

Tesla (Nasdaq: TSLA) unveiled its Model 3 on Thursday night in Los Angeles.

As stated before, the Model 3 will price at $35,000 and have a minimum 215 miles on a single charge, CEO Elon Musk said. Autopilot features will be standard on the car.

Musk also was "fairly confident" that deliveries of the new vehicle will begin in 2017.

In total Tesla received over 115,000 reservations for the Model 3 within the first 24 hours and orders have surpassed 134,000 within the following two hours. (Slight update: Pre-orders are now said to be past 150,000, according to TechCrunch, citing a tracker at the Tesla event.) Notably, Tesla has sold around 107,000 vehicles to date. Deposits -- which are refundable -- were $1,000 each and customers were limited to two for online orders.

Musk commented, We have an amazing product. I think you’ll be blown away [...] You will not be able to buy a better car for $35,000, or even close. It’s a really good car, even with no options.

Tesla's Model 3 page is live here.

Another glamor shot:

Interior of the Model 3 prototype:

The video from Tesla's Model 3 event is embedded below:

Tesla Unveils Model 3 from Tesla Motors on Vimeo.

Shares of Tesla are up well over 5 percent in early trading.

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