That's slightly less than the shortest-range Model S, which starts at 240 miles. But Musk said those are just "minimum" expectations. "We hope to exceed them," he said. Musk didn't elaborate on the battery technology within the Model 3, but for reference, the 240-mile-range Model S runs on a 70 kWh battery.

The dashboard doesn't look like what you're used to.

Gone are the familiar dials and buttons of a traditional car. The Model 3 clears all that away for a clean, futuristic dash, with the main user interface being a simple steering wheel and a tablet mounted where you would ordinarily see radio knobs and climate controls.

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The rear windshield and roof are made out of a single sheet of glass.

Just as the Model X's front windshield sweeps up and over the occupants' heads, so does the rear windshield on the Model 3. The result, said Musk, is some "amazing headroom and a feeling of openness" for passengers in the back seat.

Tesla moved the front seats further up.

To create even more leg room for people in the rear seat, Tesla designed the Model 3 so that the driver and front passenger will sit closer to the front of the car. It's unclear whether this creates a meaningful difference in driving experience, but this small change will likely mean big benefits for those in the back.

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You can fit a 7-foot surfboard inside.

The car doesn't skimp on cargo space, according to Musk.

Autopilot hardware comes standard.

Every car will come with the hardware needed to enable Autopilot, and all of Autopilot's key safety features will be built in. But it'll still cost you extra to add Autopilot's signature feature: The ability to cruise down the highway with the computer in control.

It's fast.