Tesla Gets 180,000 Orders In 24 Hours For New Model

04:18

April 01, 2016

Tesla Motors unveils the new lower-priced Model 3 sedan at the Tesla Motors design studio Thursday, March 31, 2016, in Hawthorne, Calif. It doesn't go on sale until late 2017, but in the first 24 hours that order banks were open, Tesla said it had more than 115,000 reservations. Long lines at Tesla stores, reminiscent of the crowds at Apple stores for early models of the iPhone, were reported from Hong Kong to Austin, Texas, to Washington, D.C. Buyers put down a $1,000 deposit to reserve the car. (AP Photo/Justin Prichard)

Elon Musk, CEO of electric car maker Tesla, tweeted today that there are already 180,000 orders for the new Model 3, even though that car won't hit the market for at least a year. The Model 3, Tesla's first mass-market car, is expected to cost close to $35,000, far less than other Tesla models.

Musk unveiled the car at the company's design studio in Hawthorne, California last night. Here & Now's Lisa Mullins talks with Dana Hull of Bloomberg News who was at the event and rode in the car.

Model 3 orders at 180,000 in 24 hours. Selling price w avg option mix prob $42k, so ~$7.5B in a day. Future of electric cars looking bright!— Elon Musk (@elonmusk) April 1, 2016
Guest

Dana Hull, business reporter at Bloomberg News. She tweets @danahull.

This segment aired on April 1, 2016.