Success Story of Tesla

Tesla Motors is an electric car company and it also manufactures electric powertrains. The company is headquartered in California and Elon Musk is the Chief Executive Officer of Tesla Motors and after his involvement in the company, it touched new heights. Tesla Motors was started in the year 2004 by two engineers from Silicon Valley named Marc Tarpenning and Martin Eberhard. Later, the founders of Tesla collaborated with Elon Musk, who joined the company with an investment of $70 Million.

Elon Musk designed the first electric sports car named Tesla Roadster.  In the year 2006, he received the ‘Global Green’ award for Tesla Roadster. However, Tesla’s flagship sports car Roadster came on the road in the year 2008. As of 2018, Tesla Motors became the Number 1 American Auto brand leaving behind Ford and General Motors. Currently, the company serves its customer base in North America, the Middle East, China, Australia, Japan, Europe, and New Zealand.

Tesla Motor’s ‘Model S’ with starting price of $69000 surpassed company’s all the previous records and became the ‘Motor Trend Car of the Year’ and ‘The Best Car Ever Tested’ for the year 2013 leaving behind BMW 7 Series, Mercedes Benz S Class and all other luxury sedans. As of May 2015, the market capitalization of Tesla Motors was estimated at nearly $31 Billion.

As of October 2018, Tesla Motors has a market cap of nearly $46 Billion, an employee base of over 45000 spread across all its locations, and estimated revenue of over $13.50 Billion. Hence, going by the market trends, Tesla Motors today is the biggest car company leaving behind legendary companies like Ford and General Motors. Its Model 3 is bestselling car in the luxury sedan category and the company launched it as a car for the masses and that is the reason it had a starting price of $35000, however, the plan failed and this basic variant of car is still not available in the market, however the $45000 and $55000 variants are available.

Currently, Tesla motors have more than 100 charging stations and 80 stores spread across Asia, Europe, and North America and the company aims to sell 5 lakh cars by 2020.

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