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Tesla, Inc. (Formerly Tesla Motors, Inc.) Is An American

Tesla is an American electric vehicle and clean energy company founded in 2003 and based in Palo Alto, California. It specializes in manufacturing electric vehicles, energy storage products, and solar panels. Tesla's current vehicle lineup includes the Model S, Model 3, Model X, and Model Y, as well as energy storage products like the Powerwall and Powerpack. After over a decade in the market, Tesla ranked as the world's best-selling plug-in electric passenger car manufacturer in 2019, with global vehicle sales increasing 50% from 2018 to 2019. Tesla became profitable for four consecutive quarters in 2019-2020, making it eligible for inclusion in the S&P 500.

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40 views1 page

Tesla, Inc. (Formerly Tesla Motors, Inc.) Is An American

Tesla is an American electric vehicle and clean energy company founded in 2003 and based in Palo Alto, California. It specializes in manufacturing electric vehicles, energy storage products, and solar panels. Tesla's current vehicle lineup includes the Model S, Model 3, Model X, and Model Y, as well as energy storage products like the Powerwall and Powerpack. After over a decade in the market, Tesla ranked as the world's best-selling plug-in electric passenger car manufacturer in 2019, with global vehicle sales increasing 50% from 2018 to 2019. Tesla became profitable for four consecutive quarters in 2019-2020, making it eligible for inclusion in the S&P 500.

Uploaded by

Elliot
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© © All Rights Reserved
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Tesla, Inc. (formerly Tesla Motors, Inc.

) is an American electric vehicle and clean energy


company based in Palo Alto, California.[10] The company specializes in electric vehicle
manufacturing, battery energy storage from home to grid scale and, through its acquisition of
SolarCity, solar panel and solar roof tile manufacturing.[11]

Founded in July 2003 by engineers Martin Eberhard and Marc Tarpenning as Tesla Motors, the
company’s name is a tribute to inventor and electrical engineer Nikola Tesla. The next three
employees were Ian Wright, Elon Musk, and J. B. Straubel, all of whom are named as co-
founders of the company.[2] Musk, who formerly served as chairman and is the current CEO, said
that he envisioned Tesla Motors as a technology company and independent automaker, aimed at
eventually offering electric cars at prices affordable to the average consumer. In February 2017,
Tesla Motors shortened its name to Tesla, Inc.

Tesla's current products include cars (the Model S,[12] Model 3,[13] Model X,[14] and Model Y[15]),
batteries (the Powerwall,[16] Powerpack,[17] and Megapack[18]), solar products (solar panels[19] and
solar roof tiles[20]) and related products[21] and services.[22][23] To produce these, Tesla operates
multiple production and assembly plants. Its main vehicle manufacturing facility is at Tesla
Factory[24] in Fremont, California. Other facilities are Giga Nevada,[25] Giga New York, and Giga
Shanghai.

After 11 years in the market, Tesla ranked as the world's best-selling plug-in and battery electric
passenger car manufacturer in 2019, both as a brand and by automotive group, with a market
share of 17% of the plug-in segment and 23% of the battery electric segment.[26] Tesla global
vehicle sales increased 50% from 245,240 units in 2018[27] to 367,849 units in 2019.[26] In 2020,
the company surpassed the 1 million mark of electric cars produced.[28] The Model 3 ranks as the
world's all-time best-selling plug-in electric car, with more than 500,000 delivered.[29] Tesla cars
accounted for 81% of the battery electric vehicles sold in the United States in the first half of
2020.[30]

From July 2019 to June 2020, Tesla recorded four profitable quarters in a row for the first time,
which made it eligible for inclusion in the S&P 500.[31]

On July 1, 2020, Tesla reached a market capitalization of US$206 billion, surpassing Toyota to
become the world's most valuable automaker by market capitalization.[32]

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