Tesla Rolls Out New Model 3 Vehicle

(RTTNews) - Electric car maker Tesla Motors, Inc. (TSLA) unveiled its new Model 3 sedans on Friday. In a ceremony at Tesla's factory complex near San Francisco, the company's chief executive, Elon Musk, delivered the initial Model 3s to first 30 customers - most of them employees of the company.

The company has yet to specify when it will begin selling and said the production will ramp up over the next few months on the two version of the Model 3 -- a $35,000 option with a 220-mile range and a $44,000 version with a 310-mile range.

The company noted that more than half-million prospective buyers who have reserved cars with $1,000 deposits.