As of Saturday night, Tesla had 276,000 pre-orders for the Model 3.

Company founder Elon Musk took to Twitter to reveal the number of pre-orders for the Model 3 has reached an impressive 276,000, thus surpassing Tesla’s estimations even further. All these people have placed a refundable deposit of $1,000 for the Model 3 which carries a starting price of $35,000.

The zero-emissions sedan is eligible for a $7,500 tax credit, but that’s applicable only to the first 200,000 units, which means that customer number 200,001 onward won’t be able to take advantage of the considerable discount. That doesn’t seem to be a deal breaker since more and more people are interested in the Model 3, even though deliveries won’t start before the end of 2017.

Interestingly, Reuters says Tesla Motors has teamed up with LG Display to create the 15-inch landscape-oriented touchscreen for the infotainment system. Reuters is citing an undisclosed source within the company who also said the screens of the Model S and Model X are made by someone else.

Musk went on to specify in one of his tweets the Model 3 will come as standard with rear-wheel drive, but dual-motor AWD will be optional. The PayPal co-founder mentioned even the RWD variant “will have great traction on ice due to fast torque response of Tesla drivetrain.”

Tesla Motors is certainly delighted about the strong interest, but at the same time it also raises some concerns about how all of these orders will be fulfilled in a timely manner. It remains to be seen whether the company will find a way to speed up production to keep up with the unexpected demand and clear the backlog.

Source: Elon Musk (Twitter) and Reuters

Gallery: Tesla Model 3