Share prices of Tesla Motors Inc. has been witnessed to surge on Friday following rush of interest in the Model 3 sedan electric car. The mass market car has been unveiled on late Thursday by Tesla CEO Elon Musk.

More than 137,000 people have submitted a $1,000 deposit for the vehicle during the first day the company accepted pre-bookings. The pre-booking figure has been revealed during the unveiling ceremony in California.

During the unveiling event, Elon Musk has also informed that Model 3 will be capable of traveling 215 miles through a single charge. The new electric car is expected to go into production next year and get ready for deliveries in the US during late 2017. However, analysts question whether and how soon Tesla will be able to meet growing demand for the stylish compact sedan ranging from $35,000.

Tesla confirms that the pre-order deposit money is fully refundable. The deposits in turn confirm a place in the queue for the prospective buyer offering the right to purchase the Model 3. However, it does not constitute the purchase or order of a vehicle, reports USA Today, citing Tesla fine print of the reservations materials as the source.

Survey conducted by brokerage, Evercore ISI, prior to the unveiling suggests that investors have expected around 55,000 orders during the first 72 hours. Investors have also predicted for 117,000 pre-bookings by the end of this year, according to a report published in Reuters.