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Tesla Model 3 electric car orders touch 250,000

Tesla CEO Elon Musk of Saturday said the pre-orders of the firm's much-anticipated Model 3 electric car have passed the 250,000 mark.

The five-seater car is the lowest-cost vehicle to date manufactured by the California-based firm. This car was unveiled on Thursday. Musk tweeted he would give further updates on Sunday and Wednesday.

It is notable that all pre-orders will necessarily translate into actual sales when the car is released. Tesla is planning to start delivering the car by late 2017. It can be ordered in advance in dozens of countries, including the UK, Republic of Ireland, Brazil, India, China and New Zealand.

For his part, Musk has said his goal is to produce about 500,000 vehicles a year once production is at full capacity. The basic model will start at $35,000 and have a range of at least 215 miles (346km) per charge.

A total of 50,580 vehicles were delivered by Tesla last year. Most of those were its Model S saloon, which raced ahead of the Nissan's Leaf to become the world's best selling pure-electric vehicle.