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Tesla Motors unveils the new lower-priced Model 3 sedan at the Tesla Motors design studio Thursday, March 31, 2016, in Hawthorne, Calif. It doesn't go on sale until late 2017, but in the first 24 hours that order banks were open, Tesla said it had more than 115,000 reservations. (AP Photo/Justin Prichard)

(Bloomberg) — Elon Musk revealed Tesla Motors Inc.’s Model 3, the sedan the electric-car maker is counting on to expand its customer base and reach sustainable profitability, capping a day in which fans lined up to reserve vehicles sight unseen. The shares jumped on Friday.

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