Pre-orders of the Model 3 started today all over the globe. Potential customers lined up at Tesla dealerships and placed $1,000 deposits for a car (limit two per person) they might not take delivery of until 2018.

Musk noted earlier that this is phase one of the car's rollout and while tonight's event showed off the car, the automaker will be adding more features in the future as it gets closer to production.

When it does hit the street, it's closest competitor will be the Chevy Bolt. Both cars have a range of over 200 miles and a pre-tax credit price in the mid $30,000 range. What the Model 3 has over the Bolt is Tesla's Supercharger stations. In addition being able to charge at any level 2 charging station, it can reap the benefits of charging quickly at the Tesla stations.