Tesla CEO Elon Musk unveiled the Model 3 electronic car’s first thirty production units, all for company employees, in front of hundreds of people and journalists amid a big roar of applause at a production facility in Fremont, California, on Friday.

The Model 3 e-car is being touted as the first “mass-market” vehicle, with starting price of $35,000. With a tax credit of $7,500, the price will further fall to $27,500.

However, the top version of Model 3 with every premium option will cost nearly $60,000. It will sprint from zero to 60 miles per hour in 5.6 seconds, with a top speed of 130 miles per hour.

It will come equipped with 8 cameras, forward radar and 12 ultrasonic sensors that will help it in avoiding collisions and carrying out automatic emergency braking. The ability to support Enhanced Autopilot, which is the company’s second-generation Autopilot system, will be another notable feature of the new vehicle.

The premium version will have a range of 220 to 310 miles and will boast to have the utmost safety ratings in all categories.

More than 500,000 reservations for the Model 3 have already been placed. Customers who place orders now can expect to receive the e-car by the end of next year.