Elon Musk will wake up happy today because of the hype that his company created with the unveiling of the Tesla Model 3. But based on how many people put deposits down this week to hold their spots to buy the affordable new electric vehicle, sales of the $35,000 Model 3 will absolutely blow the doors off the plug-in competition.
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Apple and Tesla have hired each other’s employees over the last couple of years, with Musk saying that Apple has hired away “very few people” from the vehicle company despite offering $250,000 signing bonuses and 60 percent salary increases to its employees.
Model 3 is created to have a range of at least 215 miles (346 kilometers) with a fully charged battery and be able to carry five adults comfortably.
Tesla Motors unveils its Model 3 auto at the Tesla Motors design studio Thursday, March 31, 2016, in Hawthorne, Calif.
Tesla claims that over 130,000 preorders have been already placed and that number will continue to rise.
Speaking at the launch, Elon Musk, chief executive officer, said the Tesla cars are to accelerate the world’s transition to sustainable transport. This allows for best-in-class front and rear-seat legroom.
The Model S will be built at Tesla’s factory in Fremont, California while the Lithium-ion battery packs for the auto will be made at Tesla’s massive Gigafactory 1 factory in the U.S. state of Nevada.
Like the larger Model S, the Model 3 has a trunk and a “frunk”, meaning there are large storage areas at both ends of the auto. Production is set to begin towards the end of 2017.
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Part of that interest is because of USA government incentives, which are offering a $7,500 (£5,200) subsidy for the first 200,000 buyers; thought the vehicle itself has impressed in its own right. Long lines, reminiscent of the crowds at Apple stores for early models of the iPhone, were reported from Hong Kong to Austin, Texas, to Washington, according to Bloomberg News.
