Tesla Headquarters, California, USA. Source: Wikipedia.org (Creative Commons license).
Tesla has risen to the top of the electric vehicle industry in a short time, overtaking traditional automakers. The brand is largely responsible for proving to everybody that electric vehicles are practical. As a result, governments all over the world are trying to promote EVs over internal combustion engine automobiles for environmental sustainability.The company is based in California, US but is gradually extending its reach to other parts of the world. Its current CEO is Elon Musk, who is also the largest shareholder.
Tesla was founded in 2003 and only makes purely electric vehicles. Its cars boast the latest tech, most popularly, advanced autonomous driving. It is registered on the NYSE, with the largest market capitalization for any automobile company.
Business Model
Tesla is one of the most vertically integrated companies in existence as it manufactures many of its vehicle parts in house, including its car seats. This is part of its approach to cutting production costs and retaining valuable intellectual property. For example, the company is installing high capacity die casters named Giga Press for mass producing one-piece chassis for its vehicles, rather than coupling together different parts.Owners of Tesla vehicles are able to exclusively take advantage of the company’s network of Superchargers, numbering more than 25,000, for ultra rapid charging of their batteries in public. However, there are indications that other EV brands may soon be able to make use of the charging stations.
In more deviation from the norm, Tesla neither pays for traditional ads nor has a press department.
Worldwide Operations
Tesla is on a path to global expansion after establishing itself as a household brand in its home country. It already has production facilities in Shanghai, named Giga Shanghai. There is a good prospect for more expansion there as Asia is the largest market for EVs.The company is nearly finishing its complex Giga Berlin in Germany, near Berlin. It plans to make batteries and EVs for the European market there.
The CEO believes making more affordable EVs will speed up the adoption of EVs and is actively working towards it.
Products
Tesla has an impressive roster of vehicles for sale. It has the best-selling electric vehicle ever, the Model 3, which is nearing a million units sold. It also makes the Model S, a sedan that has seen several upgrades and is available in several variants. There is also the Model X, the first SUV by the company, distinct with its winged doors.Tesla also sells the Model Y, a compact utility vehicle. It makes the Roadster, its first ever vehicle but now discontinued.
Beyond electric vehicles, Tesla sells power storage products and solar energy solutions.
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