Elon Musk unveils Tesla's Model 3 electric car

Tesla Motors unveils its Model 3 car at the Tesla Motors design studio Thursday, March 31, 2016, in Hawthorne, Calif. (AP / Justin Prichard)

Tesla CEO Elon Musk unveiled the company’s latest and most affordable electric car Thursday night, but enthusiasts were already handing over $1,000 deposits before even seeing the vehicle.

By the time Musk took the stage at the Tesla Motors design studio in Hawthorne, Calif., to reveal the Model 3, more than 115,000 pre-orders had been registered.

The Model 3 sedan will cost US$35,000 -- the cheapest one so far.

Lineups to pre-order the vehicle began outside dealerships throughout North America earlier this week, despite the fact that few details about the vehicle had been released to the public.

"It's technologically advanced and it's cool," said one man who was among the dozens of individuals lined up inside a Tesla showroom in Toronto on Thursday morning.

"With Tesla, the technology and service that backs it is unparalleled by any other car company," he added.

About 40 individuals even spent the night outside the Lawrence Road dealership to pre-order the car.

"We've heard a lot of rumours about it," said another man, who was the first at the dealership to pre-order the Tesla Model 3, after spending the night waiting outside.

Despite the rain in Montreal, approximately 150 people lined up outside the Tesla dealership for their chance to pre-order the car.

Meanwhile, the lineup at Tesla's Vancouver location stretched around the block.

Tesla has said it expects to start Model 3 production at its Fremont, California, factory at the end of 2017. But the company has a history of delays.

Currently, Tesla sells two vehicles: The Model S sedan, which starts at US$71,000, and the Model X SUV, which starts around US$80,000.

With files from The Associated Press