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Tesla Motors reports 325K deposits for Model 3

PALO ALTO, Calif-A week after Tesla Motors Inc.’s Model 3 reveal, pre-orders for the automaker’s new economically-priced electric vehicle have topped 325,000, according to the company’s CEO, Elon Musk-surely exceedingly even the high-profile auto chief’s wildest expectations.

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That figure implies about $14 billion in future sales, achieved without paid advertising or endorsements, Tesla said. Long before the Model 3 debuted, critics viewed the auto as a make-or-break product for Tesla and suggested it could drive EV growth if successful. Tesla wrote at the end of its blog post. But as we can see, more and more people are willing to pre-order the Model 3 and take advantage of its low price, which starts at $35,000 before federal incentives kick in.

Both the Tesla Model 3 and Model S that were caught on camera came in metallic silver body colour.

It was one of the most hotly anticipated reveals on the automotive calendar, but even Elon Musk hadn’t expected the Tesla Model 3 to be this quick out of the blocks.

Tesla announced Thursday that it has received 375,000 preorders for its recently unveiled Model 3.

Customers ordered the Model 3 with a $1,000 down payment, which is fully refundable until 2010.

The Model X, which was first delivered September 29 last year, had only 206 deliveries in the last three months of last year, and 2,400 more in the first three months of this year.

Is Tesla testing Model 3 in public? Earlier this week, Tesla said it delivered less than 15,000 cars in the first quarter, falling short of its 16,000 goal.

Tesla has expanded its Fremont plant significantly to prepare for the Model X and Model 3, Kallo said.

“Most importantly”, the company added, “we are all taking a huge step towards a better future by accelerating the transition to sustainable transportation”.

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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.

Tesla Model S                  Courtesy of Tesla