Last week, Tesla (TSLA) shares rose higher by almost 4% after the company unveiled its Model 3 electric car. In a presentation Thursday night from CEO Elon Musk, the electric car maker announced the Model 3, which will sell for $35,000 before incentives, which will be the cheapest an electric car has ever retailed.

Tesla said the car will accelerate from 0-60 miles per hour in six seconds or less, will have a range of at least 215 miles per charge, and will feature autopilot capabilities. The car will be delivered starting next year, and the company had already received 115,000 pre-orders for the Model 3, with media reports indicating that number has already risen to over 150,000. Tesla added that to support these new Teslas on the road, it would double its total number of available superchargers and quadruple the number of available destination chargers by the end of 2017.


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