is a large American clean energy and automotive company with headquarters in Austin, Texas. Tesla develops and produces electric vehicles (cars and trucks), grid-scale and residential stationary battery energy storage devices, solar panels, solar roof tiles, and related goods and services.
One of the most valuable companies in the world, Tesla was also the most valuable automaker as of 2023. With an 18% market share in 2022, the company was the market leader for battery electric cars.
In the US, its subsidiary Tesla Energy designs and installs a significant amount of photovoltaic systems. With 6.5 gigawatt-hours (GWh) installed in 2022, Tesla Energy is one of the biggest global suppliers of battery energy storage systems.
Tesla, Inc. creates, develops, produces, and sells energy generation and storage systems in addition to fully electric vehicles. The following segments make up the company’s business:
Vehicles, energy production, and energy storage. The design, development, manufacture, sale, and leasing of electric vehicles, as well as the sales of automotive regulatory credits, are all included in the automotive segment.
The design, manufacture, installation, sale, and leasing of stationary energy storage products, solar energy systems, and the sale of solar energy system incentives are all included in the Energy Generation and Storage segment.
Its headquarters are in Austin, Texas, and it was established on July 1st, 2003 by Jeffrey B.
Nikola Tesla, an inventor and electrical engineer, is honored in the company name.
Elon Musk became the company’s biggest shareholder in February 2004 after making a $6.5 million investment. He was appointed CEO in 2008.
The stated goal of Tesla is to hasten the transition to environmentally friendly energy and transportation, using solar energy and electric vehicles.
The Roadster sports car, which was Tesla’s first vehicle model, entered production in 2008. Model S sedan, Model X SUV, Model 3 sedan, Model Y crossover, and Tesla Semi truck were released after this in 2012, 2015, 2017, and 2020, respectively. The business intends to produce the Cybertruck.
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.