Tesla Model 3 has garnered close to 400,000 reservations since Elon Musk, Tesla Motors' CEO and product architect, unveiled the Model 3 last March 31. The sudden interest has prompted Musk to adjust one of Tesla's goals to be able to produce 500,000 units a year by 2018 and not by 2020.

The Tesla Model 3 power unit doesn't have much available information, but the third iteration has a 215-mile range on a single charge and can accelerate from 0 to 60 mph in just under six seconds. This is just for one of the variants. Musk mentioned that other variants of the Model 3 will have a longer range and faster acceleration, Tech Insider reported.

On the outside, the front is aerodynamically designed to offer the least resistance. The nose is smooth and contains no fake grills, intended to maximize fuel efficiency. The single-piece glass roof profides the ultimate feeling of "openness," as the CEO mentioned during the unveiling.

The Model 3 may be smaller than the Model S but it does not affect the available space inside the upcoming car. In fact, it is more spacious than the current model. It can accommodate 5 persons. It can fit a 7-foot surfboard, beneficial for those who love the seas. It is also designed to have ample room for child seats.

The trunk or storage compartment also offers the right amount of luggage space for its size.  The company has even made it more accessible with the hinge position.

A 15-inch touchscreen display provides all the information needed, which incorporates navigation and entertainment as well. No other instrument gauges or cluster can be found inside.

Autopilot and the Supercharging feature comes standard, but certain convenience features will come for an extra charge.

As the company website says," Model 3 combines real world range, performance, safety and spaciousness into a premium sedan that only Tesla can build. Our most affordable car yet, Model 3 achieves 215 miles of range per charge while starting at only $35,000 before incentives. Model 3 is designed to attain the highest safety ratings in every category."

Individuals who are interested in making a reservation for one needs to shellout US$1,000. The Tesla Model 3 price starts at US$35,000 and deliveries will start by late 2017.