Tesla, Inc. is an American multinational automotive and clean energy company headquartered in Austin, Texas.
It specializes in designing, manufacturing, and selling battery electric vehicles (BEVs), stationary battery energy storage solutions, solar panels, and solar shingles, along with related products and services.
Founded in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors, the company was named in honor of inventor and electrical engineer Nikola Tesla.
In February 2004, Elon Musk became Tesla’s largest shareholder and was named CEO in 2008.
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That same year, Tesla began production of its first vehicle, the Roadster sports car, followed by the Model S sedan in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, the Model Y crossover in 2020, the Tesla Semi truck in 2022, and the Cybertruck pickup truck in 2023.
Notably, in June 2021, the Model 3 became the first electric car to achieve global sales of 1 million units. By 2023, the Model Y was recognized as the best-selling vehicle worldwide.
Tesla is one of the most valuable companies globally by market capitalization.
In October 2021, it briefly reached a trillion-dollar valuation, becoming the seventh U.S. company to achieve this milestone.
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In 2023, Tesla led the battery electric vehicle market with a 19.9% share and was ranked 69th in the Forbes Global 2000. As of March 2024, it is recognized as the world’s most valuable automaker.
However, Tesla has faced numerous challenges, including lawsuits and government scrutiny.
Allegations have emerged regarding whistleblower retaliation, worker rights violations such as sexual harassment and anti-union activities, safety defects leading to multiple recalls, and a lack of a public relations department.
Additionally, Elon Musk’s controversial statements, particularly regarding the company’s driving assist technology and product release timelines, have drawn criticism.
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