Tesla has just revealed its latest car, the Model 3. Prior to its showroom release, pre-orders have been building up for the newly launched model. Does this signify tighter competition?

Other manufacturers don't think that massive pre-orders translate to upwards sales figures in the long run. Competitors like Nissan even welcomed the challenge that the Tesla Model 3 presents. Speaking to Automotive News, Nissan Motor Co. CEO Carlos Ghosn said that the interest in the Model 3 is good news not just for Tesla but the overall industry as well.

Ghosn stated, "The fact that so many people are willing to pay a down payment to get this car which becomes available at the end of 2017 is a good sign. Finally, good competition for EVs is picking up."

General Motors agrees with this, and even says that their own upcoming electric vehicle, the Bolt, already generated enough interest even without pre-orders put up. According to AutoBlog, GM spokesman Fred Ligouri stressed that for the Bolt, there are no pre-orders discussed currenty.

"We haven't taken any. We don't need to begin building our products," Ligouri said.

The GM spokesman added that the showcase for the upcoming EV addition will go straight to showrooms.

"We're really excited to offer it when it goes into retail production at the end of this year to those that have expressed interest and we'll work through our great network of dealerships to get them to customers."

Since Tesla officially revealed the Model 3 at the end of March, pre-orders for the upcoming EV iteration have been listed to be at least 276,000, and counting.

Meanwhile, it seems that Tesla still has some kinks to iron out with the Model 3. According to Fool.com, the company is still undecided on whether making supercharging the vehicle a part of the package, or if there will be add-on fees for the feature.