Introduction
Tesla, Inc. stands as a preeminent American manufacturer of electric vehicles, solar panels, and battery storage solutions. Founded in 2003, the company, named after the visionary inventor Nikola Tesla, quickly ascended to global recognition within the automotive sector.
Origins and the Roadster
Originally established to develop an electric sports car, Tesla Motors saw Martin Eberhard and Marc Tarpenning at the helm as CEO and CFO, respectively. Substantial funding, including a significant investment of over $30 million, came from co-founder of PayPal, Elon Musk, who assumed the role of chairman in 2004.
In 2008, Tesla Motors unveiled its inaugural vehicle, the all-electric Roadster. Rigorous testing demonstrated an unprecedented range for a production electric car, achieving 245 miles (394 km) on a single charge. The Roadster’s performance rivaled that of many gasoline-powered sports cars, boasting an acceleration from 0 to 60 miles (96 km) per hour in under four seconds and a top speed of 125 miles (200 km) per hour. Furthermore, its energy efficiency was equivalent to a gasoline mileage of 135 miles per gallon (57 km per liter).
The Roadster’s body was crafted from carbon fiber, a lightweight yet strong material commonly utilized in prestigious supercars. A key advantage of the Roadster was its zero tailpipe emissions, powered by an electric motor fueled by lithium-ion cells, similar to those used in laptop computer batteries, and rechargeable via standard electrical outlets. Despite a federal tax credit of $7,500 for electric vehicle purchases, the Roadster’s $109,000 price tag positioned it as a luxury item.
In late 2007, Eberhard transitioned from his role as CEO and president of technology to the advisory board of the company. He subsequently departed the company in 2008 but remained a shareholder. Tarpenning also left in 2008. Musk took over as CEO. Tesla’s initial public offering in 2010 raised approximately $226 million.
