Electric car giant and closely followed US firm Tesla Motors (NASDAQ:TSLA) was back in the news on Thursday as its production plans for the new Model 3 were in focus.
On Thursday last week the highly anticipated new model from the stable was launched in Los Angeles.
According to reports, in an e-mail sent last night the firm confirmed it was “increasing its production plans to minimize the wait for Model 3” after the flurry of orders received.
On Friday (April 1) the group had already received 115,000 orders, which grew to over 276,000 by Sunday.
The purchase price of the long range vehicle was set at $35,000.
This production output will be particularly important for Tesla’s customers in the US, due to a $7,500 tax credit for electric vehicles.
But once 200,000 people have used that, the rebate starts to phase out over a 12-month period.
Tesla shares in New York added 0.15% to stand at US$266.17.