Tesla's Chief Executive Elon Musk announced on Twitter in reply to Fortune Magazine's post, saying "Tesla says new Model 3 reservations won't arrive for close to 2 years."

Elon Musk replied "@FortuneMagazine This is because the first 12 months of production are sold out."

Tesla announced the Model 3 on March 31 with the delivery date for "late 2017." But the new fully Auto-pilot beast from Tesla has already received 400,000 pre-orders. The company has confirmed that the new orders for the highly anticipated electric vehicle won't arrive until mid to late 2018.

The Tesla Model 3 on-road will be the smallest and most affordable car from the company with true mainstream appeal.

Tesla Model 3 is a smaller car than Model S but the overall design is distinctly Tesla, with few notable new design traits like the flat, grille-less face at the front.

It comes with a second storage space under the bonnet as the glass roof stretches from the bottom of the windshield into the hunched rear end, leaving small boot opening space.

Model 3 was previewed in dark blue, Matte Black and Silver colour.

There isn't much information about the Model 3 interior design except a 15-inch horizontal monitor in the middle seen during the reveal. Musk has also tweeted that the Model 3 will feel like a "spaceship" on the inside.

BGR highlight's Musk's words that the clutter-free cabin would possibly indicate some sort of self-driving capabilities.

The Model 3 will come with the necessary hardware needed for self-driving. Musk tweeted this week that the new Model 3 will be capable of full Level 5 autonomous driving in the near future.

However, the owner of the Model 3 will have to pay a hefty premium to activate the self-driving feature. Enhanced Autopilot features will cost $5,000 (£4,100). Those who opt for a fully self-driving Tesla will have to pay $8,000 (£6,500). Also, Tesla will charge more when the system goes live, says Electrek.

The Model 3 will be capable of at least 215 miles on a single charge. You can pre-order this Car on Tesla's website.