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Model 3 gives Tesla Motors an iPhone moment

Reservations exceeded 115,000 reservations in 24 hours on Thursday as long queues formed at Tesla outlets, and had reached 253,000 on Saturday

The orders for Model 3 are a ringing endorsement for Tesla's less-expensive car, which is intended to spread the adoption of electric vehicles and lift the publicly traded US carmaker to profitability.

San Francisco

TESLA Motors Inc's Model 3 unveiling was its iPhone moment: More than 250,000 orders have been placed for the car, unseen by most of the would-be buyers, including thousands who stood in long lines or camped out overnight at stores. For billionaire chief executive officer...

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