Elon Musk, CEO of Tesla has officially unveiled the Model 3 electric car as promised.

The model is priced at $35,000 which is considered cheaper and more affordable. Besides, it has a great mile range and will be shipped from late 2017.

The Model 3 official pictures are now available on their website. You can see some of them in here while pre-orders should be done in their page. The car can be reserved for a meager sum of $1,000. However, the company’s head has confirmed that priority will be given to those who have already purchased a Model X or Model S. The electric car is at least a year away from production but that didn’t stop people from pre-ordering it. Tesla has not the best reputation when it comes to delivering cars as promised within the time frame but they have added that it won’t happen again with the Model 3.

As soon as the pre-orders page opened, at least 150,000 people ordered the Model 3 by paying the initial deposit. If you are planning to do it as well, it is wise to read the terms and conditions page the company has created. Tesla also saw a solid seven percent increase in shares as soon as the announcement went live.

According to the information available in the Model 3 page, the fully electric sedan has a total range of 215 miles. It is an amazing feat achieved by the company because they have accomplished it without increasing the overall cost. The pricing might vary based on the region as it doesn’t include incentives and delivery charges. It is a five adult seater model even though the pictures showcase a really sleek design.

The Tesla Model 3 has a five-star safety rating in all categories and has autopilot safety features. By the time it gets launched in 2018, probably every car which comes out in the year will have autonomous safety features including automatic braking, lane departure warning, autonomous driving and similar stuff. The supercharging capabilities allow the car to get charged quickly in just two hours but actual details of its charging period was not revealed in the event.

Elon Musk took to the stage to announce the model much to the delight of a huge crowd gathered and the event was also shared live over the web. You can watch it online if you are keen on seeing it in person.

https://www.teslamotors.com/model3