Tesla, Inc.

American automotive, energy storage and solar power company

Tesla, Inc. (/ˈtɛslə/ TESS-lə or /ˈtɛzlə/ TEZ-lə[a]) is a company based in Austin, Texas which makes electric cars. It was started in 2003 by Martin Eberhard, Dylan Stott, and Elon Musk (who also co-founded PayPal and SpaceX and is the CEO of SpaceX). Eberhard no longer works there.[7] Today, Elon Musk is the Chief Executive Officer (CEO).[8] It started selling its first car, the Roadster in 2008.

Tesla, Inc.
FormerlyTesla Motors, Inc. (2003–2017)
Company typePublic
ISINUS88160R1014
Industry
FoundedJuly 1, 2003; 21 years ago (2003-07-01) in San Carlos, California, U.S.
FoundersSee § Founding
HeadquartersGigafactory Texas,
Austin, Texas
,
U.S.
Number of locations
1,068 sales, service and delivery centers
Area served
  • East Asia
  • Europe
  • Middle East
  • North America
  • Oceania
  • Southeast Asia
Key people
Products
Production output
  • Increase 1,845,985 vehicles (2023)
  • Increase 6.54 GWh battery energy storage systems (2022)
  • Increase 348 MW solar (2022)
Services
RevenueIncrease US$81.5 billion (2022)
Increase US$13.7 billion (2022)
Increase US$12.6 billion (2022)
Total assetsIncrease US$82.4 billion (2022)
Total equityIncrease US$44.7 billion (2022)
OwnerElon Musk (21%)
Number of employees
Increase 127,855 (2022)
Subsidiaries
Websitetesla.com
Footnotes / references
Financials as of December 31, 2022.
References:[1][2][3][4][5]
Tesla Cybertruck

The Tesla name originally comes from Nikola Tesla. He was an inventor who worked with electricity, electric cars and many other ideas along with Thomas Edison a century earlier. The company was formerly known as Tesla Motors, Inc. and changed its name to Tesla, Inc. in February 2017.

The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits. It provides sedans and sport utility vehicles through direct and used vehicle sales, a network of Tesla Superchargers, and in-app upgrades; and purchase financing and leasing services.[9]

The Energy Generation and Storage segment engages in the design, manufacture, installation, sale, and leasing of solar energy generation and energy storage products, and related services to residential, commercial, and industrial customers and utilities through its website, stores, and galleries, as well as through a network of channel partners. This segment also offers service and repairs to its energy product customers, including under warranty; and various financing options to its solar customers.

Roadster

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Tesla Roadster (1st generation)
 
Tesla Roadster (2nd generation)

There were some test cars built from 2004 to 2007, but regular production started in 2008. From then until the end of 2011, they sold 2,150 Tesla Roadsters to customers in 31 countries.[10] It sold for about $100,000 dollars, but it was very fast (0 to 60 miles (0 to 97 kilometres) in 3.9 seconds) and could go a long way before the batteries needed to be recharged.

One big problem of electric cars compared to cars that run on gasoline is that most electric cars could not go very far before needing to be recharged. A gasoline car can often go 300 or 400 miles (480 or 640 kilometres) before needing more fuel, but most electric cars could not go over 100 miles (160 kilometres) on a charge (EV-1, RAV4-EV, etc.). The Roadster could go 220 miles (350 kilometres) on a single charge.[7] On February 6, 2018, SpaceX Falcon Heavy sent Elon Musk's Roadster into a Solar orbit.

Model S

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Tesla Model S

The Model S replaces the Roadster. It is sold with different battery sizes – for $58,750 it can go 160 miles (260 kilometres). The top end can go 265 miles (426 kilometres) on a charge and with all the extras can cost $100,000. The 2013 Model S was named the Motor Trend Car of the Year,[11] the 2013 Car of the Year by Automobile Magazine[12] and the 2013 World Green Car at the New York International Auto Show.[13] It has a lower drag coefficient than a Toyota Prius, so it uses less energy to push the air out of the way as it moves.

As of 2019, the 2019 Tesla Model S can go up to an EPA rated 370 miles (600 kilometres) on a single charge.[14] In 2020, this range was made longer, at 402 miles (647 kilometres).[15]

Model X

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Tesla Model X

The Model X is a mid-sized, all-electric, luxury, crossover utility vehicle (CUV) made by Tesla, Inc. that uses falcon wing doors for access to the second and third row seats. The prototype was unveiled at Tesla's design studios in Hawthorne on February 9, 2012. The Model X has an official EPA rated 237–295 miles (381–475 kilometres) range and the combined fuel economy equivalent and energy consumption for the AWD P90D was rated at 89 miles per US gallon (2.6 litres per 100 kilometres; 107 miles per imperial gallon).

Model 3

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Tesla Model 3

The Model 3 is a mid-size (US) / compact executive (EU) luxury all-electric four-door sedan manufactured and sold by Tesla, Inc. According to Tesla officials, the 2019 Model 3 Standard Battery version delivers an EPA-rated all-electric range of 250 miles (400 kilometres) and the 2019 Long Range Battery version delivers 322 miles (518 kilometres). The Model 3 has a minimalist dashboard with only a centre-mounted LCD touchscreen. Tesla stated that the Model 3 carries full self-driving hardware to be optionally enabled at a future date.

Within a week of unveiling the Model 3 in 2016, Tesla revealed they had taken 325,000 reservations for the car, more than triple the number of Model S sedans sold by the end of 2015. These reservations represent potential sales of over US$14 billion. By August 2017, there were 455,000 net reservations, and an average of 1,800 reservations were being added per day.

Limited production of the Model 3 began in mid-2017, with the first production vehicle rolling off the assembly line on July 7, 2017, and the official launch and delivery of the first 30 cars on July 28. On July 1, 2018, it was announced that Tesla had met its production goal of 5,000 cars in a week. Total production through end of June 2018 has been 28,578 cars.

  1. According to company representatives, both pronunciations are correct,[6] though Nikola Tesla's surname is properly pronounced TESS-lə.

References

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  1. Baer, Drake (November 11, 2014). "The Making Of Tesla: Invention, Betrayal, And The Birth Of The Roadster". Business Insider. Archived from the original on July 11, 2018. Retrieved October 3, 2018.
  2. "Elon Musk". Forbes. Archived from the original on February 10, 2014. Retrieved February 15, 2021.
  3. "Q2 2023 Shareholder Deck" (PDF). Tesla, Inc. July 19, 2023. Archived (PDF) from the original on July 29, 2023. Retrieved August 2, 2023.
  4. "Annual report Form 10-K 2022 Tesla Inc". U.S. Securities and Exchange Commission. January 31, 2023. Archived from the original on February 1, 2023. Retrieved February 1, 2023.
  5. Tully, Shawn (November 20, 2023). "Elon Musk's 10 laws of management". Fortune. Archived from the original on November 27, 2023. Retrieved December 1, 2023.
  6. "What's the correct way to pronounce 'Tesla'? We asked". Yahoo! Finance. July 13, 2017. Archived from the original on October 6, 2021. Retrieved October 6, 2021.
  7. 7.0 7.1 "2008 Tesla Roadster". MotorTrend. Archived from the original on March 26, 2013. Retrieved March 30, 2013.
  8. "Tesla Motors Executives". Tesla Motors. Retrieved March 30, 2013.
  9. "What does Tesla, Inc. do?". Strike.Market. Retrieved March 14, 2022.
  10. "Tesla Company Overview". Reuters. Retrieved March 30, 2013.
  11. "2013 MT Car of the Year". MotorTrend. Archived from the original on April 6, 2013. Retrieved March 30, 2013.
  12. "2013 Car of the Year". Automobile Magazine. Archived from the original on March 18, 2013. Retrieved March 30, 2013.
  13. "Tesla Model S Award". Environmental News. Archived from the original on April 1, 2013. Retrieved March 30, 2013.
  14. "Tesla now sells electric cars with 370 miles of range". April 24, 2019.
  15. Crider, Johnna (June 16, 2020). "Tesla Model S Long Range Plus Exceeds 400 Miles Of Range, EPA Confirms". cleantechnica.com. Retrieved June 25, 2020.

Other websites

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