Tesla Motors unveiled its most budget-friendly electric car Thursday night to hundreds of people gathered in Los Angeles and thousands of online viewers.
Tesla started taking reservations for its Model 3 sedan Thursday. In just 24 hours, 115,000 people had reserved a vehicle, according to Tesla Motors Chairman and CEO Elon Musk.
Excluding any government incentives, the electric car starts at $35,000 – roughly half the price of the next-lowest priced Tesla model.
The Model 3 is meant to be the electric car company's "mass market, affordable car," Musk said during Thursday's unveiling.
"I want to emphasize that even if you buy no options at all, this will still be an amazing car," Musk said. "You will not be able to get a better car for $35,000, or even close."
The Model 3 will begin production late next year.
