The company's name is a tribute to inventor and electrical engineer Nikola Tesla (The Serbian-American designer of the alternating current (AC) electrical supply system.
Elon Musk was the financial backer for the first few years of it's development to the Models. Between 2003 and 2007 in invested around £85 Million of his own fortune to the projects. It also received investment from Google and JPMorgan.
Up until the end of 2019 Tesla had reported losses in many quarters of a financial year. Given the rise and demand on electric cars (especially in the Benifit-in-kind or BIK arena) Telsa has started to go in to the black.
By Jan 2020 Tesla become the most valuable American automaker to ever exist, with a market capitalization of £70 billion.
The business Strategy is to produce a high performing luxury electric vehicles. It's Production strategy is about producing it's owns parts and building upon the ever growing proprietary vehicle charging stations.
It's sales strategy is to be different from the conventional approved dealer franchise route and instead, will only sells it's vehicles online on company-owned showrooms. This approach is being viewed by many Manufacturers such as the Volkswagen Group who also aims to offer it's ID range by the way of an e-commerce / online shop configuration.
Did you know:
- Tesla was ranked for 11 years as the best plug-in and best battery electric vehicle.
- On March 9, 2020, the company produced its 1 millionth electric car.
- In 2017, intense hurricanes rocked the nation of Puerto Rico, and many people were left without electricity. Musk heard about a children’s hospital that was without power, and within a month he delivered 700 solar panels to the hospital where 3,000 children and 35 chronically ill patients resided.
- Consumers of Tesla’s electric vehicles are not losing any speed or power. You may be surprised to find out the Model S can go from 0 to 60 miles per hour in 1.2 seconds, while still saving the ozone. This is faster than the Porsche Panamera.
- Driving over rough terrain and potholes can be a drag. Engineers at Tesla sympathized with drivers and installed self-adjusting suspension capabilities. This means that the Model S remembers roads that drivers have traversed, and will automatically lift the car when faced with this terrain again. This was introduced to protect the battery from any impact that may cause it to combust.
- Tesla owns the largest battery that’s ever been built. It’s connected to a wind farm in South Australia and it’s actually so big that it’s footprint is comparable to a football field. The company built the massive lithium-ion battery in 2017 to help provide power during energy shortages, which are frequent in the area.