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Tesla unveils highly anticipated Model 3

As for performance, the base Tesla Model 3 will manage 0-60 miles per hour in less than six seconds.

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Tesla said on Thursday over 130,000 people had ordered the electric vehicle in a couple of hours although it is more than a year away from production. Musk explained that the Model 3 has two trunks-one in the front and one in the rear-thanks to its lack of gasoline engine under the hood. While the Model 3 will be a more price-friendly Tesla vehicle, it will still compete with other luxury automobile makers.

Is an e-car on your radar this year?

Tesla Motors has unveiled an affordable electric auto Model 3 at an invitation only event. To help with the huge wave of Model 3s, Tesla is doubling the number of Superchargers worldwide by the end of 2017.

Commenting on the vehicle, IHS Automotive said: “Tesla’s business model includes using customer deposits to help provide the capital necessary to finish vehicle development and get the production auto out the door”. It will also be able to travel 215 miles before it needs to recharge and can supercharge at any of Tesla’s quick charging stations.

At $35K Dollars, the Tesla Model 3 is a big deal and will seriously challenge more mainstream competitors like the Nissan LEAF and Chevy Volt.

“We are simply awestruck by the demand surfacing for the Model 3”, wrote Stifel auto analyst James Albertine.

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But today is all about the Model 3, the pinnacle of the Tesla Motors master plan. Investors are vigorously buying into the rally as Model 3 took the center stage at Tesla’s Design studio at Hawthorne last night. Acceleration was neck-strainingly quick, and the ride was – as always with electric cars – strangely quiet. According to Musk, the vehicle will be one of the safest in the world, and with a price tag of $35,000 it should hopefully deliver. At a starting price of $35,000 — before federal and state government incentives — the Model 3 is less than half the cost of Tesla’s previous models.

Tesla Model 3 Bookings open in India Launching Soon