Catherine Hiles
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Tesla Fans Putting Deposits on Not-Yet-Revealed Model 3

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tesla lineup model 3 reveal

The Model 3 will soon join Models S and X in Tesla’s lineup

One thousand dollars is not an insignificant amount of money. While some might see this amount as a drop in the bucket, most people wouldn’t spend $1,000 on just anything. Yet, today, across the world, people are lining up for hours to put a $1,000 deposit down on the Tesla Model 3. There’s just one issue there: the affordable electric model hasn’t even been revealed yet.

Tesla Motors is well-known for its Model S—a long-range electric vehicle sold directly to consumers rather than via a car dealership. The Model S retails for $69,900 for the entry-level 60, up to $105,000 for the tricked-out P85D. This high price tag has made Tesla models unattainable for the majority of drivers—until now. With the release of the Model 3, Tesla will be offering something new—a long-range electric car than will retail somewhere in the sum of $35K. In anticipation of the Model 3’s reveal (scheduled for tonight at 11:30 Eastern / 8:30 Pacific time), fans across Europe and the United States have been lining up outside Tesla showrooms since Wednesday in order to be one of the first to order the (presumably) remarkable car. Tesla will start taking reservations as soon as the reveal begins tonight, and fans want to be among the first to get their hands on a Model 3 when it begins deliveries late next year.

For now, relatively little is known about the Tesla Model 3. We do know that it’ll have a range of around 200 miles, though rumors state it’ll be closer to 300 so the Model 3 can outpace its key competitor, the Chevy Bolt. We also know that the Model 3 will cost around $35K before federal and state tax credits, which could drive the price of the electric car down into the $20K range.

Living in Eastern Time and having an infant at home means I will be sound asleep during the big reveal tonight, but I’m sure the Twitter community will catch me up as soon as I wake up tomorrow.

News Sources: The Washington Post, Popular Mechanics