Tesla motors was founded in the year 2003 by two American native entrepreneurs “ Martin Eberhard and Marc Tarpenning”. It was previously known as Tesla Inc. from 2003-2017. It is basically an American company who manufacturers electric automobiles. The name Tesla comes from the Serbian American inventor and engineer NIKON TESLA.
Who funded Tesla Motors?
Tesla motors was funded from a bunch of sources, some highlited as PayPal and Elon Musk ( Co- founder of Tesla motors). If it is to be believed then Elon musk has contributed more than $30 Million to the new firm and became the chairman of the company in the year 2004.
Built first sports electric car
Tesla motors released its first electric motor car in 2008 named as Tesla Roadster. In terms of its impeccable performance, it runs upto 345 km on a single charge. It can accelerate from 0-60 miles per hour in merely just 4 seconds. The vehicle was made up of carbon fibre makes it a lightweight car. This vehicle was powered by lithium-ion cells which is often used in laptop & computer batteries. With a federal tax credit of $7500, it sums up the most expensive luxury car item. The car sales accelerates upto 2500 vehicles in 31 countries.
Resignation of Tesla Founders
Eberhard and Tarpenning played an active role in the company’s early development before the involvement of Elon Musk. Both the founders resigned the company in 2008. Eberhard, Who was the CEO and president of the company declared its resignation and joined the advisory board of the company whereas Tarpenning serving as Vice president and supervisor for the manufacturing of electronic and software systems for the Roadster also said Goodbye to the company in 2008. Afterwards, Elon must grasps the position as CEO.
Model S Sedan
Tesla ceased its production of Tesla Roadster back in 2012. To connect and concentrate more on its new four door model S sedan, which was highly praised by automotive critics for its astounding performance and design. It arrived in three different battery options having an estimated range of 235 or 300 miles.Tesla manufacturers the model S at the 5,400,000 sq. Feet in Tesla factory in Fremont, California. At the official launch, the first ten customers received their cars at the Fremont factory on June 22,2012. The production got a hype from the 15-20 cars per week in August 2012 to about 1000 cars per week in 2015.
Convenient to Tesla Customers
In 2012, Tesla stations which are also called superchargers built to design for charging batteries fast and aptly with no time and without loosing extra cost to the owners of Tesla cars. Further, Tesla stations had the capability to the complete replacement of the Model S battery pack.
Tesla Model X
Tesla unveiled its third installment, the Model X, focussed at the SUV market on February 9, 2012. This model had to face gradual delays and came into September 2015. The Model X weighs around 8% more than the S model and available in four different battery packs. The highest version of the model goes from 0-60 miles per hour in 2.7 seconds outperforms the fastest SUV’s and sports car. This vehicle also called as “ Crossover” vehicle i.e a vehicle with features of sports utility vehicle.
Use of Solar Energy
Tesla motors also bifurcated into solar energy products. The batteries used in homes and businesses to store electric power from solar energy revealed in the year 2015. They also picked up the Solar panel company Solar City in 2016. In 2017, the
company decided to alter its name to Tesla Inc. to showcase that the company is not just the market of cars.
In 2018, Elon was sued by the U.S securities and exchange commission for a tweet claiming that funding had been secured for potentially taking Tesla private. He had been charged $20 million each along with Tesla. He was also forced to bring down as chairman temporarily while remaining as CEO of Tesla.
In 2019, As per the Forbes, Musk stated in a tweet that Tesla would build half a million cars in 2019. The SEC again reacted and filed in court for violating the terms of settlement agreement with such a tweet. This was eventually settled by a joint agreement between the two.
In March 2019, Tesla unveiled the Model Y i.e small SUV in their list of cars. In September 2019, they also launched a Tesla Cyber truck, an electric battery power pickup truck. Globally Tesla’s worldwide revenue is about 21 Billion USD. The production level of vehicles by Tesla came to 96,155 units by Q3. It was 20% higher than the volume produced in 2018. Tesla is going to bring the Roadster, Model y and the widely acclaimed Cybertruck comprises of Tesla model S,X and Tesla model 3.