Tesla Model 3 release date, specs, price: Most affordable electric car model to have a starting price of $35,000

Tesla Model 3, set to be the California-based car firm's most affordable model, has essentially been sold out after a deluge of pre-orders followed its debut in March of last year. What makes this forthcoming car model so good that it has already attracted hundreds of thousands of prospective buyers ahead of its official release?

According to Tesla founder Elon Musk, the first year production of the Tesla Model 3 has all been accounted for, which means that pre-orders made afterward may not be fulfilled until late 2018.

The car's main hook is believed to be its affordability as it is set to become the cheapest electric car to hit the mainstream car market. But cheap does not mean that the company will be pulling punches as the Tesla Model 3 will be equipped with the best features fit for its entry-level range, along with all the hardware necessary for future upgrades to its autonomous capabilities.

The car is also expected to come with self-driving systems and to be included in Tesla's Autopilot program, which releases firmware updates and some extra features on a monthly basis.

There is, however, a bit of a catch regarding the cars self-driving technology, as customers will be required to pay a hefty premium in order to activate the hardware. For as much as $5,000, the Enhanced Autopilot features of Tesla Model 3 will allow for self-driving capabilities on highways and self-parking features. Owners will even be able to summon their vehicles from short distances.

The Tesla Model 3 also combines real world range, performance, safety, and a spacious interior all into a premium sedan that only Tesla can build and offer at the best and most affordable price.

Other features will include a 215-mile range per charge, seating for 5 adults, an acceleration speed from zero to 60 mph in six seconds, and supercharging options.

The car will be priced at $35,000 prior to incentives, and it is expected to be officially released later this year.