Tesla racks up 276,000 Model 3 orders in just days

SAN FRANCISCO: Orders for the much-hyped Tesla Model 3, a cheaper version of its electric car aimed at the mass market, have surged to 276,000 in just three days, company founder Elon Musk said on Sunday, 3 April.

Orders are piling up fast and exceeding the expectations of the company for its Model 3 - which will have a base price of $35,000 - even though it won't be available until late next year.

Amid reports of queues to snap up the vehicle, Musk tweeted: "276k Model 3 orders by end of Sat".

And in a subsequent tweet added: "A Model 3 order gives you priority in your geography, so, even the total count is high, ordering early willbmake a big difference locally."

With the Model 3, a compact sedan unveiled Thursday, Tesla aims to show it can appeal to the general public and produce cars en masse.

The base price is half that of Tesla's luxury Model S and the Model X, which start at $70,000.

Musk said on Thursday that orders had passed 115,000 worldwide and hinting that demand was outstripping expectation later tweeted: "Definitely going to need to rethink production planning..."

Source: AFP