Tesla takes the wraps off its base-electric vehicle, the Model 3

According to CarAdvice, Tesla Motors has managed to collect 115,000 pre-orders for the company's latest electric model. Musk said the Gigafactory is the largest building in the world by footprint.

There are features that have been ported from Model S to Tesla Model 3, and they happen to be the rear-wheel drive and all-wheel drive versions, along with a 15-inch landscape touchscreen inside.

Earlier today, Elon Musk took the wraps off Tesla's most-affordable electric vehicle yet - Model 3.

Musk was mum on the Model 3's horsepower, torque, interior or exterior dimensions, or even what the maximum range would be on higher trim levels at launch.

The Model 3 is critical to the Silicon Valley automaker's growth plans and to sustaining its lofty stock price.

Tesla planned to unveil its Model 3 Thursday night at its Los Angeles design studio.

Tesla is aiming the Model 3 as a proper mass-market vehicle with both power under the hood and plenty of tech.

Three Model 3s were driven on stage during the unveiling.

Musk added that the aim was to produce about 500,000 vehicles a year once production was in full swing. Last year, it turned out 50,000.

Tesla Motors' Model 3, the cheapest electric vehicle yet from the company has been the most anticipated electric auto ever.

Die-hard Tesla fans will be able to reserve a new Tesla Model 3 next week, and the company has outlined exact reservation times and prices.

Special safety features are available at no extra cost, Musk said without going into detail. "That's what gives you the legroom to have five adults". Tesla meanwhile has hired almost 150 Apple employees.

Before Thursday's presentation, lines formed outside Tesla stores as people waited to place orders for the new auto.

So what does your $1,000 and lots of patience actually get you? This means that we could see the opening of a Tesla store in India, if the company intends it as a major market. At time of writing, Tesla has promised production in late 2017.

Global media's coverage of Nuclear Security SummitEarlier in the week, Trump also said he wouldn't rule out using nuclear weapons in Europe or the Middle East, as NPR reported . The Nuclear Security Summit started in 2010 at the urging of Obama who aims for a "world without nuclear weapons ".

Source: Tesla takes the wraps off its base-electric vehicle, the Model 3