For the unveiling of Tesla Motors' Model 3 electric vehicle, expectations were set at a base price of $35,000 with a driving range of at least 200 miles per charge.

CEO Elon Musk, who officially announced the Model 3 in a Los Angeles event, met all the expectations for the electric vehicle, which is being tapped to push the technology into the mainstream American market.

Musk claims that the Model 3 will have a five-star rating across all categories, with features such as a driving range of 215 miles and the ability to go from 0 to 60 miles per hour in less than 6 seconds. Musk then noted that the range and acceleration figures were only for the base model of the vehicle, with faster versions of the Model 3 to also be available.

Tesla's Autopilot mode will also be included as a standard feature in the Model 3, functioning as a semi-autonomous mode that is able to handle the acceleration of the vehicle as well as lane changes when in highway traffic.

Musk also pointed out that five adults can comfortably fit into the Model 3, and that the entire roof of the electric vehicle, all the way to the back, is made of glass. The Model 3 will also come with both rear-wheel drive and all-wheel drive, similar to the Model S, along with a 15-inch touch screen that is smaller compared to the 17-inch touch screen found in the Model S and Model X.

The development of the Model 3 was made possible by the money that Tesla made through its sales of the higher-end, lower-volume Model S and Model X electric vehicles, Musk said, who began his presentation with a plea for consumers to control carbon emissions by switching to sustainable transport.

As for when the electric vehicle will be released, Musk said that he is "fairly confident" that deliveries will start by the end of next year. By then, the company claims that there will be about 7,200 Superchargers, or charging stations for Tesla's electric vehicles, established across the country, which is double the number of Superchargers today.

For customers interested in the vehicle, the Model 3's release date could not come soon enough. Tesla said that it has already accepted 115,000 preorders for the electric vehicle by the end of the March 31 event, with most of the preorders coming even before the Model 3 was officially unveiled. It might be too early to say that the Model 3 will be a hit, but it is certainly looking that way for Tesla's entry into the mass market.

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