Tesla Model 3 Set for 2017 Release With Prices Starting at $35,000

Tesla unveiled its Model 3 vehicle at an event at its California headquarters on Friday. This will be the lowest priced car yet from the auto company headed by Elon Musk. The new vehicle will start at $35,000 and go on sale in 2017.

The Model 3 is the first mass market car from Tesla which has been known as a luxury car manufacturer until now. A ten year plan has led the company to this lower-priced vehicle. The new price puts it in range of electronic vehicles from major auto manufacturers. The Model 3 will have a range of 215 miles per charge. It will go from zero to 60 mph in under 6 seconds. Supercharger support will be standard with the new car.

Tesla is asking for customers to put down a $1,000 reserve for their Model 3. Investor's Business Daily reports that over 250,000 pre-orders have already been placed. This is bigger than the company expected and will have them rethinking production according to Musk.

Here is how Tesla describes the Model 3: "Model 3 combines real world range, performance, safety and spaciousness into a premium sedan that only Tesla can build. Our most affordable car yet, Model 3 achieves 215 miles of range per charge while starting at only $35,000 before incentives. Model 3 is designed to attain the highest safety ratings in every category."

Musk has been tweeting the pre-order count on his Twitter account, @elonmusk. Earlier today he wrote, "253k as of 7am this morning." In another tweet her wrote, "Future of electric cars looking bright!"

Musk also notes that the wait time is increasing as each new pre-order comes in. Here is a video of highlights from the Tesla Model 3 event compiled by The Verge.