In an evident indication of the overwhelming customer response to Tesla Motors’ forthcoming Model 3 affordable electric sedan, the automakers said on Thursday that it has received more than 325,000 pre-orders for the new auto.
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The final specifications of the new Model 3 have yet to be fully detailed, but the vehicle will make use of an all-electric powertrain like its predecessors, the Model S, Model X and the Tesla Roadster. Unlike other major product launches, we haven’t advertised or paid for any endorsements.
At the unveiling of the Model 3 last week, Company Chief Executive Elon Musk contended that they had learned from their past mistakes, adding that he felt “fairly confident” that the electric vehicle would be delivered next year.
“We would write more, but we need to get back to increasing our Model 3 production plans!” The next day, orders topped 200,000 and a few days later approached 300,000.
The news comes just a week after the Model 3 was unveiled, to much fanfare.
“A huge step towards a more sustainable future”, the company said in a Twitter post on Thursday.
If all 325,000 orders stand (Tesla will refund customers who cancel their reservations), the carmaker would rake in roughly $14.5 billion, it said in a blog post. The rush of $1,000 reservations has buoyed Tesla shares while raising questions about how the company, which delivered just 50,658 vehicles in 2015, can crank up manufacturing at its Fremont, California, factory to produce cars in much higher volumes.
While the pre-orders speak volumes about the popularity of Tesla, it also raises concerns about the company’s ability to meet the complex production goals. The Model 3 was seen driving behind a Tesla Model S, which came fitted with a camera unit filming the former, giving us a clear perspective of the difference in proportions and design of both models.
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The company had previously forecast 16,000 deliveries in the quarter.
