Tesla has received 276,000 Pre-orders for its Model 3, worth more than $10 Billion

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We all know Tesla, the electric vehicle company headed by Billionaire and nerd extraordinaire Elon Musk. Founded in 2003, Tesla has managed to marvel the world by upstaging companies like General Motors, Ford and Toyota througn innovative design and making a niche car segment become cool. In fact, Elon Musk himself has said the progress made by Tesla in the electric vehicle space has had a ripple effect on industry-wide efforts away from gasoline powered cars.

Tesla’s mission according to Musk is to make electric vehicles for the mass market. Since inception, Tesla brought to consumers the Roadster, an electric Sports car which served as a “proof of concept” that there was need for a player in this space. Tesla then unveiled the hugely Popular Tesla Model S, which managed to captivate the world. In some countries such as Norway, it became the fastest car in 2013.  The Model S  went to receive wide acclaim from car magazines and pundits in general for both its design and innovation. It remains a popular choice in the high end segment especially for environmentally conscious consumers. Tesla then unveiled the Model X, a high end SUV. Tesla has done several cool things such as an over-the-air software update to their cars as well as the addition of the very cool autopilot feature.

Last week, Tesla unveiled the Tesla Model 3. Previously known as the Model E, the car is the first attempt at the mass market with a $33,000 price tag. Most Tesla cars start at $50,000 onward. The launch of the car was met with heightened interest owing to the immaculate designs and the reduced price tag. According to Tesla, the company has recieved 276,000 pre-orders within the first 36 hours after launch.  Car owners were required to make the pre-orders through a $1,000 deposit.  This puts the total number of orders at $10 Billion currently. The company will be looking towards delivery of the orders by beginning in 2017.

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