Hundreds line-up to reserve new Tesla Model 3 in Eden Prairie, Minn.

- At least 300 people were in line Thursday morning in Eden Prairie, Minn. to pay $1,000 to reserve the new Tesla Model 3. Doors opened at 10 a.m. for eager buyers, but some camped out overnight.

Despite the long wait and $1,000 down payment, these prospective buyers still haven’t seen the car they’re buying. The Tesla Model 3 unveiling will be conducted by Tesla CEO Elon Musk online at on Thursday night.

"It's not set to be released to the public for over a year, but demand is so high that Tesla is holding reservation parties to handle all the demand," said Matt Privratsky, senior communications manager for Fresh Energy.

Model 3 production is scheduled to start in late 2017 and Tesla will begin deliveries in North America starting on the West Coast, moving east. That means these Minnesota buyers likely won’t get their cars for another 2 to 3 years.

According to Electrek, Tesla has said the Model 3 will start at half the price of the Model S, which starts at $70,000 – meaning $35,000 for the Model 3. A $7,500 tax credit brings the cost down to $28,000.

PHOTOS – Long lines for Tesla Model 3 in California


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