Tesla Inc.

Tesla was incorporated as Tesla Motors, Inc. on July 1, 2003, by Martin Eberhard and Marc Tarpenning. Eberhard envisioned building “a car manufacturer that is also a technology company”, focusing on battery, computer software, and motor technologies. Ian Wright joined the founders shortly after. In February 2004, Elon Musk led a $7.5 million funding round, becoming chairman and the largest shareholder. J. B. Straubel joined in May 2004 as chief technical officer. A settlement in September 2009 allowed Eberhard, Tarpenning, Wright, Musk, and Straubel to all be recognized as co-founders.

Musk took an active role in the company, and in February 2005, he led a $13 million Series B funding round. Further funding of $40 million followed in May 2006, with investment from Google founders Sergey Brin and Larry Page, and former eBay president Jeff Skoll. A fourth round in May 2007 brought total private financing to over $105 million. In August 2007, Eberhard was asked by the board, led by Musk, to step down as CEO, later taking the title of "President of Technology" before leaving the company in January 2008. Co-founder Marc Tarpenning also left in January 2008. Michael Marks served as interim CEO in August 2007, followed by Ze'ev Drori in December 2007, before Musk succeeded him as CEO in October 2008. Production of the Roadster began in 2008. By January 2009, Tesla had raised $187 million and delivered 147 cars. Musk had personally contributed $70 million to the company.

In May 2010, Tesla purchased the NUMMI plant in Fremont, California, from Toyota for $42 million. On June 29, 2010, the company went public via an initial public offering, the first American car company to do so since Ford in 1956. In October 2010, Tesla opened the Tesla Factory and began production of the Model S sedan. The Model S won several awards in 2012 and 2013, including the 2013 Motor Trend Car of the Year, and became the first electric car to top monthly sales in a country, achieving this in Norway in September 2013. The Model S was also the best-selling plug-in electric car worldwide in both 2015 and 2016. In 2016, Tesla acquired SolarCity for $2.6 billion, merging it with the battery energy storage division to form Tesla Energy. The company changed its name to Tesla, Inc. in February 2017 to reflect its expanded business. In April 2016, Tesla unveiled the Model 3 sedan, receiving over 325,000 reservations within a week. Production of the Model 3 faced significant delays and challenges, described as "production hell", but the vehicle became the world's best-selling electric car from 2018 to 2021.

From July 2019 to June 2020, Tesla reported four consecutive profitable quarters and became the world’s most valuable automaker. It exceeded $1 trillion in market capitalization in October 2021. Tesla introduced the Model Y crossover SUV in March 2019, with deliveries starting in March 2020. The company invested heavily in expanding production capacity, opening Gigafactory Shanghai in January 2019, Gigafactory Berlin in February 2020, and Gigafactory Texas in June 2020. In November 2023, Tesla began shipping the Cybertruck, produced at Gigafactory Texas. In October 2024, Tesla unveiled concept versions of the Cybercab and Robovan as part of a future ride-hailing service. In January 2026, Tesla lost its status as the world's leading manufacturer of electric vehicles to BYD. On January 28, 2026, Musk announced that Tesla would discontinue the Model S and Model X in the second quarter of 2026 to focus on the Optimus robot.

Tesla utilizes four different battery cell form factors: 18650, 2170, 4680, and prismatic. The company manufactures two types of electric motors: induction motors and internal permanent magnet (IPM) motors. Tesla also developed the North American Charging Standard (NACS), which has been adopted by other manufacturers. Current vehicle offerings include the Model 3, Model Y, Semi, Cybertruck, and Cybercab. Discontinued models include the Roadster (first generation), Model S, and Model X. Tesla also offers energy products, including solar panels, the Solar Roof, the Powerwall, and the Megapack.

Tesla has faced lawsuits and controversies, including allegations of sexual harassment, labor disputes, and safety concerns. In 2021, seven women came forward with claims of sexual harassment at the Fremont factory. The company has also been involved in lawsuits related to alleged misleading statements about Autopilot and Full Self-Driving capabilities, and has faced scrutiny over its data privacy practices. In February 2025, Tesla faced protests and vandalism in response to Elon Musk’s political activities. The company has also been involved in lawsuits with former employees and critics, and has been accused of unfair labor practices.