By Matthew Reitman / March 27, 2017 8:58 am
Tesla Model 3 (Telsa)
Tesla Model 3 (Telsa)


The potential for Tesla’s Model 3 is electrifying, with founder Elon Musk betting the electric car could become the fastest selling luxury sedan in America, Bloomberg reported.

The five-person electric sedan accelerates from 0-60 in 2.8 seconds, faster than luxury sedan market competitors, Mercedes C Class and the BMW 3 series. The Model 3 will cost about the same those, too—$35,000.

Before production on the car begins in three months time, Telsa’s founder Elon Musk is betting that his company can not only beat competitors BMW and Mercedes in road performance, but in financial performance as well.

Last week, Elon Musk generated some buzz on social media when he shared a clip of the Model 3 on a test drive. The excitement generated 400,000 deposits on the car—each for $1,000.

Musk took the unusual step of detailing the automaker’s manufacturing strategy on a call with investors last week, according to Bloomberg


His goal: produce 430,000 Model3 cars by the end of 2018. It’s a lofty one given that’s more than the total number of electric cars purchased worldwide last year. Tesla’s current production sits at about 2,000 units/week.