ABOUT TESLA
Tesla was founded in 2003 by a group of engineers who wanted to prove that people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker and more fun to drive than gasoline cars. Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.
Launched in 2008, the Roadster unveiled Tesla’s cutting-edge battery technology and electric powertrain. From there, Tesla designed the world’s first ever premium all-electric sedan from the ground up – Model S – which has become the best car in its class in every category. Combining safety, performance, and efficiency, Model S has reset the world’s expectations for the car of the 21st century with the longest range of any electric vehicle, over-the-air software updates that make it better over time, and a record 0-60 mph acceleration time of 2.28 seconds as measured by Motor Trend. In 2015, Tesla expanded its product line with Model X, the safest, quickest and most capable sport utility vehicle in history that holds 5-star safety ratings across every category from the National Highway Traffic Safety Administration. Completing CEO Elon Musk’s “Secret Master Plan,” in 2016, Tesla introduced Model 3, a low-priced, high-volume electric vehicle that began production in 2017. Soon after, Tesla unveiled the safest, most comfortable truck ever – Tesla Semi – which is designed to save owners at least $200,000 over a million miles based on fuel costs alone. In 2019, Tesla unveiled Model Y, a mid-size SUV, with seating for up to seven, and Cybertruck, which will have better utility than a traditional truck and more performance than a sports car.
Tesla vehicles are produced at its factory in Fremont, California, and Gigafactory Shanghai. To achieve our goal of having the safest factories in the world, Tesla is taking a proactive approach to safety, requiring production employees to participate in a multi-day training program before ever setting foot on the factory floor. From there, Tesla continues to provide on-the-job training and track performance daily so that improvements can be made quickly. The result is that Tesla’s safety rate continues to improve while production ramps.
To create an entire sustainable energy ecosystem, Tesla also manufactures a unique set of energy solutions, Powerwall, Powerpack and Solar Roof, enabling homeowners, businesses, and utilities to manage renewable energy generation, storage, and consumption. Supporting Tesla’s automotive and energy products is Gigafactory 1 – a facility designed to significantly reduce battery cell costs. By bringing cell production in-house, Tesla manufactures batteries at the volumes required to meet production goals, while creating thousands of jobs.
And this is just the beginning. With Tesla building its most affordable car yet, Tesla continues to make products accessible and affordable to more and more people, ultimately accelerating the advent of clean transport and clean energy production. Electric cars, batteries, and renewable energy generation and storage already exist independently, but when combined, they become even more powerful – that’s the future we want.
In 2012 Tesla stopped production of the Roadster to concentrate on its new Model S sedan, which was acclaimed by automotive critics for its performance and design. It came with three different battery options, which gave estimated ranges of 235 or 300 miles (379 or 483 km). The battery option with the highest performance gave an acceleration of 0 to 60 miles (96 km) per hour in slightly more than four seconds and a top speed of 130 miles (209 km) per hour. Unlike the Roadster, which carried its battery system at the back of the car, the Model S had its underneath the floor, which gave extra storage space in back and improved handling because of its low centre of gravity; this battery placement was used on later Tesla models. The Tesla Autopilot, a form of semiautonomous driving, was made available in 2014 on the Model S (and later on other models).
Beginning in 2012, Tesla built stations called Superchargers in the United States and Europe designed for charging batteries quickly and at no extra cost to Tesla owners. Later versions of those stations also had the capability of complete replacement of the Model S battery pack.
Tesla released the Model X, a “crossover” vehicle (i.e., a vehicle with features of a sport-utility vehicle but built on a car chassis), in 2015. The Model X had a maximum battery range of about 340 miles (547 km) and seating for up to seven.
Tesla began building large factories it called Gigafactories to produce batteries and vehicles. The first such factory opened in 2016 outside Reno, Nevada. Gigafactories were opened in Buffalo, New York, and Shanghai, China, and more Gigafactories were planned.
Because of demand for a more inexpensive vehicle, the Model 3, a four-door sedan with a range of up to 353 miles (568 km) and a price of $35,000, began production in 2017. The car had an all-glass roof, and most controls were on a 15-inch (38-cm) central touchscreen. The Model 3 became Tesla’s best-selling model and the best-selling electric car of all time, surpassing the Nissan Leaf.
The company also branched out into solar energy products. A line of batteries to store electric power from solar energy for use in homes and businesses was unveiled in 2015. Tesla bought the solar panel company SolarCity in 2016 and offered rooftop solar panels, a solar roof with energy-generating tiles, and a large battery called the Powerwall to store the power generated for use when the sun was not shining or as a backup in case of a power outage. In 2017 the company changed its name to Tesla, Inc., to reflect that it no longer sold just cars.
The following year Musk made a series of tweets about taking Tesla private, claiming that he had secured funding. In September 2018 the U.S. Securities and Exchange Commission (SEC) charged him with securities fraud, alleging that his tweets were “false and misleading.” Later that month Tesla’s board rejected a proposed settlement from the SEC, reportedly after Musk threatened to resign. However, news of the rejected deal sent Tesla’s stock plummeting, and the board quickly accepted a less generous settlement, the terms of which included Musk stepping down as chairman for at least three years and that his tweets were to be pre-approved by Tesla’s lawyers. However, he was allowed to remain as CEO. In addition, both Tesla and Musk were fined $20 million.
Tesla released another crossover, the Model Y, in 2020. The Model Y was smaller and less expensive than the Model X and shared many of the same parts with the Model 3. Sales of the Model Y quickly became comparable to that of the Model 3, and Musk expressed confidence that it would become Tesla’s best-selling model. Tesla announced several models to be released early in the 2020s, including a second version of the Roadster, a semi-trailer truck, and a pickup truck, the Cybertruck, which had a boxy angular design that excited controversy when it was first unveiled
