Yesterday, Tesla announced a new budget car, the Model 3, effectively an older brother to the more expensive Model S. Due to release in 2017 at $35,000, the Model 3 has already raked up 232,000 reservations (pre-orders essentially) each costing $1000. The electric car features 5 seats, an efficiency of 215 miles per charge with super-charging technology, auto-pilot features and 5-star safety standards.