Tesla's Musk: Model 3 Orders Surpassed 115,000 Within 24 Hours
April 01 2016 - 1:00AM
Dow Jones News
Tesla Motors Inc. Chief Executive Elon Musk said the new "mass
market" Model 3 vehicle has received more than 115,000 orders in 24
hours, outpacing expectations.
Mr. Musk showed off a new range of the vehicles on Thursday
night at an event near Los Angeles, saying the car would get at
least 215 miles of range on a single charge and would be capable of
fitting five adults comfortably.
Mr. Musk, speaking at a hangar full of enthusiasts and owners --
at least one waving a lightsaber modeled after Star Wars—said even
base models of the Model 3 would accelerate from 0 to 60 miles an
hour in less than six seconds.
The Model 3, expected to go on sale in 2017 with a base price
around $35,000, would be achieve top safety ratings, he said. "I do
feel fairly confident it will be next year," Mr. Musk said while
laughing. The company has struggled to launch vehicles on time.
The launch of the Model 3 will be closely watched by analysts
and investors concerned that Mr. Musk's plan to eventually sell
500,000 vehicles annually could hit a funding roadblock. Getting
the Model 3 out on time is critical to helping the company stanch
losses and reverse cash outflows.
(END) Dow Jones Newswires
April 01, 2016 00:45 ET (04:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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