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Tesla begins taking orders for Model 3 with no reservations required

The electric-vehicle manufacturer is taking orders from US and Canadian customers through its website
Tesla begins taking orders for Model 3 with no reservations required
The company has waived the US$1,000 fee to reserve a place in line

No reservations are needed for US and Canada consumers who are looking to get their hands on one of Tesla Inc’s (NASDAQ:TSLA) electric vehicles, as per a CNBC report.

The automaker is now taking orders for its Model 3s via its website.

READ: Tesla’s Gigafactory 3 in Shanghai to start production in two years

Previously, aspiring Tesla owners had to put down a US$1,000 deposit for a spot in line, a way for the company to gauge interest in the vehicles as well as raise capital.

Now customers with or without reservations only need to pay the standard US$2,500 deposit toward the total cost of the car at the time they make the reservation.

Tesla issues customers a vehicle identification number within a few days of the order, giving reservation holders first priority. The deposit then becomes nonrefundable.

Shares of the California-based company were down around 1% to US$318.38 in Wednesday morning trading


Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

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