About Tesla 

Tesla, Inc. (/ˈtɛslə/ TESS-lə or /ˈtɛzlə/ TEZ-lə[b]) is an American multinational automotive and clean energy company headquartered in Austin, Texas. Tesla designs and manufactures electric vehicles (electric cars and trucks), battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla is one of the world's most valuable companies and remains the world's most valuable automaker with a market capitalization of more than US$840 billion. In 2021, the company had the most worldwide sales of battery electric vehicles and plug-in electric vehicles, capturing 21% of the battery-electric (purely electric) market and 14% of the plug-in market (which includes plug-in hybrids). Through its subsidiary Tesla Energy, the company develops and is a major installer of photovoltaic systems in the United States. Tesla Energy is also one of the largest global suppliers of battery energy storage systems, with 3.99 gigawatt-hours (GWh) installed in 2021.

Tesla was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors. The company's name is a tribute to inventor and electrical engineer Nikola Tesla. In February 2004, via a $6.5 million investment, Elon Musk became the largest shareholder of the company. He has served as CEO since 2008. According to Musk, the purpose of Tesla is to help expedite the move to sustainable transport and energy, obtained through electric vehicles and solar power. Tesla began production of its first car model, the Roadster sports car, in 2009. This was followed by the Model S sedan in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, and the Model Y crossover in 2020. The Model 3 is the all-time bestselling plug-in electric car worldwide, and, in June 2021, became the first electric car to sell 1 million units globally.[9] Tesla's global sales were 936,222 cars in 2021, an 87% increase over the previous year,[10] and cumulative sales totaled 3 million cars as of August 2022.[11] In October 2021, Tesla's market capitalization reached $1 trillion, the sixth company to do so in U.S. history.

Tesla has been the subject of many lawsuits, increasing government scrutiny, and public controversies arising from statements and acts of CEO Elon Musk and from allegations of creative accounting, whistleblower retaliation, worker rights violations, and unresolved and dangerous technical problems with their products.

Founding (2003–2004)

The company was incorporated as Tesla Motors, Inc. on July 1, 2003, by Martin Eberhard and Marc Tarpenning.[12] Eberhard and Tarpenning served as CEO and CFO, respectively.[13] Eberhard said he wanted to build "a car manufacturer that is also a technology company", with its core technologies as "the battery, the computer software, and the proprietary motor".[14]

Ian Wright was Tesla's third employee, joining a few months later.[12] In February 2004, the company raised $7.5 million in series A funding, including $6.5 million from Elon Musk, who had received $100 million from the sale of his interest in PayPal two years earlier. Musk became the chairman of the board of directors and the largest shareholder of Tesla.[15][16][13] J. B. Straubel joined Tesla in May 2004 as chief technical officer.[17]

A lawsuit settlement agreed to by Eberhard and Tesla in September 2009 allows all five – Eberhard, Tarpenning, Wright, Musk, and Straubel – to call themselves co-founders.[18]

Roadster (2005–2009)

Main article: Tesla Roadster (first generation)

Elon Musk took an active role within the company and oversaw Roadster product design at a detailed level, but was not deeply involved in day-to-day business operations.[19] The company's strategy was to start with a premium sports car aimed at early adopters and then move into more mainstream vehicles, including sedans and affordable compacts.[20]

In February 2006, Musk led Tesla's Series B venture capital funding round of $13 million, which added Valor Equity Partners to the funding team.[21][16] Musk co-led the third, $40 million round in May 2006 which saw investment from prominent entrepreneurs including Google co-founders Sergey Brin and Larry Page, and former eBay President Jeff Skoll.[22] A fourth round worth $45 million in May 2007 brought the total private financing investment to over $105 million.[22]

Tesla's first car, the Roadster, was officially revealed to the public on July 19, 2006, in Santa Monica, California, at a 350-person invitation-only event held in Barker Hangar at Santa Monica Airport.[23]

In August 2007, Eberhard was asked by the board, led by Elon Musk, to step down as CEO.[24] Eberhard then took the title of "President of Technology" before ultimately leaving the company in January 2008. Co-founder Marc Tarpenning, who served as the Vice President of Electrical Engineering of the company, also left the company in January 2008.[25] In August 2007, Michael Marks was brought in as interim CEO, and in December 2007, Ze'ev Drori became CEO and President.[26] Musk succeeded Drori as CEO in October 2008.[26] In June 2009, Eberhard filed a lawsuit against Musk for allegedly forcing him out.[27]

Tesla began production of the Roadster in 2008.[28]

By January 2009, Tesla had raised $187 million and delivered 147 cars. Musk had contributed $70 million of his own money to the company.[29]

In June 2009, Tesla was approved to receive $465 million in interest-bearing loans from the United States Department of Energy. The funding, part of the $8 billion Advanced Technology Vehicles Manufacturing Loan Program, supported engineering and production of the Model S sedan, as well as the development of commercial powertrain technology.[30] Tesla repaid the loan in May 2013, with $12 million interest.[31][32]

By Mahfooz..