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First Look: Tesla Model 3 Battery Sedan

Over 100,000 buyers already plugged in with advance orders.

by on Apr.01, 2016

Tesla founder and CEO Elon Musk stands on stage with three of the maker's new Model 3 sedans.

With a standing-room-only crowd cheering him on, Tesla Motors founder and CEO Elon Musk pulled the wraps off the long-awaited Model 3 sedan Thursday night, a vehicle intended to take the battery-carmaker into the automotive mainstream.

A downsized version of the luxurious Model S, the Tesla Model 3 will go for about half the price, starting at $35,000, Musk said, for a vehicle that will deliver at least 215 miles range per charge, launch from 0 to 60 in under six seconds, comfortably fit five adults and surround them with a full range of safety features, as well as the semi-autonomous AutoPilot system.

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More than 115,000 advance orders have already been placed, said Musk, noting plans call for the first of the sedans to be delivered “next year.” But in a nod to the fact that the recently launched Tesla Model X fell two years behind schedule, the South African-born executive added, “I feel fairly confident they will begin next year.”

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Tesla Set for Biggest Risk Yet as it Reveals New Model 3

Will early interest translate into profitable sales?

by on Mar.31, 2016

A shortage of showrooms could prove a problem taking the new Tesla Model 3 mainstream.

Battery-carmaker Tesla Motors is set to make the biggest bet in its short life Thursday night with the official unveiling of the all-new Model 3.

At an estimated price of $35,000, the new sedan will cost less than half as much as the base version of the current Tesla Model S and, if all goes according to plan, transform the California carmaker into a serious mainstream, rather than niche, manufacturer.

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According to some observers, Tesla could very quickly log more than 100,000 early reservations. But not everyone is convinced, one analyst warning that “fundamental headwinds” could prove more substantial than Tesla’s ever-upbeat founder and CEO Elon Musk has anticipated.

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