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Tesla Model 3 Orders Surpass 275,000 in 48 Hours

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April 4, 2016—Orders for Tesla Motors’ first mass market electric sedan, the Model 3, surpassed 275,000 in the first 48 hours since its reveal, according to tweets from Tesla chief executive officer and co-founder Elon Musk. 

Musk tweeted April 3 that the number of Model 3 orders was 276,000 at the end of Saturday, April 2. Tesla Motors started taking $1,000 deposits on orders for the Model 3 on March 31, the day of the reveal. Production of the Model 3 is slated to begin in 2017 with deliveries starting at the end of that year. 

Specifications of the Model 3 detailed by Musk at the reveal include its base price of $35,000 and its range of at least 215 miles. It will have seating for five and be capable of supercharging.  The base model will be rear-wheel drive. A dual-motor, all-wheel-drive version also will be available, according to tweets from Musk. All Model 3s will come standard with Tesla’s semi-autonomous Autopilot system. 

Musk estimates the average selling price of the Model 3 with options will be $42,000. Musk said at the reveal  “you will not be able to buy a better car for $35,000.”

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