Tesla Model 3 Finally Unveiled Showing the Latest Electric Car

Apr 01, 2016 11:37 PM EDT | Alyza Katrina C. Torres

Close

At last, after quite a wait, the Tesla Model 3 was finally launched in California by the local-born car company. Introducing yet another electric car which revolutionized the car industry by the shift from has to electric, Tesla revealed that it has a bright future ahead during its launch.

The launch, which was also posted online through the Tesla website revealed that the expected $35,000 base electric vehicle will be up for a $1,000 reservation for Tesla consumers. And in just a matter of 24 hours, BBC News revealed that the company already received a staggering amount of reservations for the Tesla Model 3.

The numbers are quite impressive as Tesla Chief Executive Officer Elon Musk himself shared through his ever-reliable Twitter that there had already 190,000 pre-orders each with the required deposit amount for the latest Tesla car.

And this brings back the issue when Tesla had a huge net loss of $899 Million last year spending on research and development to cater a new electric vehicle to its consumers, BBC News reports. Furthermore, the launch is also assumed to be the company's glorious comeback especially when pre-orders are impressively adding by the minute.

"So, launching what it hopes will be high-volume vehicle is going to show if it can become a fully-fledged auto company that will succeed in the long-term rather than one that pumps out a few cool cars and then goes bust, as we've seen happen with other electric start-ups such as Fisker," Jessica Caldwell, an industry analyst at the car research site Edmunds said as per the publication.

However, despite the initial positive feedback, CNBC revealed through an unscientific poll they recently held that there is an 11 percent possibility that pre-orders would not push through for to complete their orders while 51 percent would push through.

Meanwhile, CNBC suggests that this may be possible because Tesla gives the right to consumers to cancel their reservations and receive a deposit refund any confirming their purchase agreement

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?

© 2021 Auto World News, All rights reserved. Do not reproduce without permission.
Get the Most Popular Autoworld Stories in a Weekly Newsletter

Join the Conversation

Real Time Analytics