Tesla starts taking orders for Model 3 electric car as Elon Musk admits company won't profit in first quarter

Tesla has announced it is taking orders for the mass-market Model 3, which has a starting price of $35,000 (£26,400). The company said it would close stores and shift all its sales to the internet in order to cut costs for the electric car. Its CEO, Elon Musk, said the move was essential to Tesla's survival. "People want to buy online." Musk also backed off of earlier guidance that the company would be profitable in all future quarters.