Elon Musk, Ian Wright, Martin Eberhard, Marc Tarpenning, and JB Straubel founded Tesla Inc., a US electric vehicle manufacturer, in 2003 in California.
The business relies on the concept of sustainable energy solutions in order to provide automobile solutions that are safe for the environment. Additionally, the business sells solar panels and solar roofs to produce clean energy.
The business also sells a Powerwall integrated rechargeable battery system that can store the energy produced by this solar equipment and be used for both domestic and commercial applications.
Tesla has surpassed a $1 trillion market cap and is currently the most valuable automaker worldwide. In 2010, the business made an Initial Public Offer (IPO).
The Model 3 was the first electric vehicle to sell 1 million units globally, becoming the all-time best-selling plug-in electric vehicle in June 2021.
Tesla delivered around 1.31 million vehicles in 2022, a 40% increase over the previous year, and as of April 2023, the company had sold 4 million vehicles overall.
Tesla became the sixth company in American history to temporarily have a $1 trillion market capitalization in October 2021.
Due to claims of worker rights violations, retaliation against whistleblowers, product flaws, and Musk’s numerous controversial statements, Tesla has come under legal attack, government scrutiny, and media scrutiny.
listed with the ticker TSLA on the NASDAQ. The manufacturer of electric vehicles reported third-quarter fiscal year 2021 revenue of $13.8 billion and net income of $1.62 billion.
In the most recent quarter of its fiscal, Tesla also reported a record-breaking delivery of 241,391 vehicles. In its fleet, Tesla Inc. has a number of electric cars to choose from, including mid-size and full-size sedans, as well as compact and mid-size SUVs.
The business has also stated that it will introduce a Cyber Truck after 2022. This electric pickup truck will have greater utility than a truck and greater performance than a sports car. The auto giant currently serves as a parent to more than 50 subsidiaries spread across the
Conclusion
Tesla heavily relied on debt in its early years to support its financial growth.
Most recently, Tesla’s operations have improved, enabling the business to change its retained earnings from negative to positive.
In terms of earnings-per-share in 2021, Tesla outperformed analyst expectations.
Tesla’s total debt and total equity were almost equal as of December 2021.
Tesla announced its intention to split its stock once more in 2020, subject to board approval.