Lithium Power International Ltd | Tesla’s Model 3 gives Elon Musk an iPhone moment.
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Tesla’s Model 3 gives Elon Musk an iPhone moment.

Tesla’s Model 3 gives Elon Musk an iPhone moment.

Tesla Motors’s Model 3 unveiling was its iPhone moment: Almost 200,000 people have placed orders for the car, unseen by most of them, including thousands who stood in long lines or camped out overnight at stores. For Chief Executive Officer Elon Musk, who has aspirations of his electric-car company becoming as big as Apple, it was a ringing endorsement.

Tesla shares rose Friday while other automakers fell in the wake of disappointing new-vehicle sales in March, leading Barclays analyst Brian Johnson to write that the tide was turning away from gasoline-burning engines to autos powered by electricity: “We’ve seen more than our fair share of headlines on how the Model 3 is a game changer, with the EV revolution imminent. Adios gas-powered cars.”