Tesla Model 3 Makes History

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One week ago, motor titan Tesla began accepting $1,000 USD reservations for its new Model 3 electric sedan. According to a blog post published on the company’s website Thursday, they now have received over 325,000 pre-orders for the car, indicating $14 billion in implied future sales.

With a starting price of $35,000 before incentives, the Model 3 will be Tesla’s most affordable vehicle yet. According to the company’s blog post, the success of the car’s pre-sale makes it “the single biggest one-week launch of any product ever.”

“This interest has spread completely organically,” the team wrote. “Unlike major product launches, we haven’t advertised or paid for any endorsements.”

“Instead,” they continued, “this has been a true grassroots effort driven by the passion of the Tesla team that’s worked so hard to get to this point and our current and future customers who believe so strongly in what we are trying to achieve.”

Tesla expects production of the Model 3 to begin late in 2017. The first prototypes for the vehicle were unveiled last week at a ceremony in Hawthorne, California.

The electric sedan seats five adults, achieves 215 miles of range on each charge, and boasts auto-pilot hardware. By comparison, the company’s other electric sedan, the Model S, offers similar specs at a starting price of $76,000.

By pricing the Model 3 in a range that most mass market consumers will be able to afford, Tesla delivers us one step closer to a future driven by eco-conscious design.

“We are all taking a huge step towards a better future by accelerating the transition to sustainable transportation,” Tesla wrote.

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