Telsa receives more than 300,000 pre-orders for Model 3

California-based electric-car maker, Tesla Motors has announced that it has received more than 300,000 pre-orders for tis announced Model 3 vehicle.

The company has received around 325,000 pre-orders from buyers paying $1,000 per unit for the vehicle that was revealed just a week earlier. Industry experts have said that the company has achieved a lot of success in attracting buyers as it has received the high number of orders considering a requirement of $1,000 per unit and that buyers will have to wait several years before getting the vehicle.

Some say that it is unbelievable that 325,000 have already paid $1,000 per unit for a vehicle that is yet to be produced. The company has produced 50,000 cars in a year and it is aiming to increase production to between 80,000 and 90,000 in 2016. However, the company's production did not have a good start in the year and the number of pre-orders for the new Model 3 is increasing with a growing number of potential buyers registering for the vehicle.

Meanwhile, General Motors is also planning to launch its Chevy Bolt EV in the segment. The company did not receive as much fanfare in the market due to several reasons including rules that prevent  GM itself from being able to accept deposits for the car as  it is not legally allowed to sell the vehicle and must go through independently-owned third party known as a car dealer under state franchise laws. GM also did not adopt the popular crowd-source and missed the opportunity to attract huge participation from the market.