Tesla operates in the transportation and energy sectors, marketing its vehicles through the ‘Tesla Motors’ division and offering stationary battery packs for residential, commercial, and utility-scale projects through the ‘Tesla Energy’ division.
The evolution of Tesla, now recognized as a powerhouse in clean energy, software, and stock markets, reveals a journey marked by resilience and innovation. In 2003, Martin Eberhard and Marc Tarpenning founded Tesla Inc., initially named Tesla Motors, paying homage to inventor Nikola Tesla. Ian Wright joined the team shortly after, and the trio embarked on a quest for funding.
Enter Elon Musk, who played a pivotal role in Tesla’s story. In early 2004, Tesla Motors secured $7.5 million in series A funding, with Musk contributing all but $1 million. Musk assumed the role of chairman of the board, and J. B. Straubel, later gaining fame with QuantumScape, joined as the fifth employee in May 2004. A 2009 lawsuit settlement allowed all five original employees to be recognized as co-founders.
Musk, having made an early investment, took on an increasingly prominent role, steering public statements and aiding in securing additional funding. The company’s strategy focused on creating an attractive sports car, the Roadster, as a stepping stone to more practical and affordable electric vehicles. The Roadster, unveiled as a prototype in the summer of 2006, marked Tesla’s entry into the electric vehicle market.
In 2007, co-founder Martin Eberhard stepped down as CEO at the board’s request, and by early 2008, neither Eberhard nor Tarpenning remained at Tesla. Musk assumed the role of CEO, a position he continues to hold, earning the title “Technoking of Tesla.” The company’s journey reflects a trajectory from humble beginnings to becoming the most valuable automaker by market capitalization.
The Tesla Roadster: A Pioneering Legacy
Introduced in 2008, the Tesla Roadster marked Tesla’s initial foray into the electric vehicle (EV) landscape. It was a groundbreaking endeavor, showcasing that EVs could blend environmental consciousness with a stylish appeal. This venture paved the way for Tesla to diversify its portfolio and develop more efficient and practical electric vehicles.
As the first highway-legal serial production Battery Electric Vehicle (BEV) with lithium-ion batteries, the Roadster shattered expectations. Notably, it became the first fully-electric production vehicle capable of traveling over 200 miles on a single charge. Despite being a niche offering from a relatively obscure automaker at the time, the Roadster, produced over four years, remains an iconic collector’s item and the cornerstone that established Tesla’s presence in an industry still predominantly fixated on internal combustion engines.
Even today, used Roadsters continue to be sought-after on the secondary market, symbolizing the genesis of Tesla’s transformative journey.
Model S, Energy Storage, and Model X: A Turning Point
In 2010, Tesla gained momentum with the acquisition of its Fremont Factory, heralding the production of two new electric vehicles. The same year witnessed Tesla’s historic Initial Public Offering (IPO) on the NASDAQ, making it the first American automaker to do so in over 50 years.
Following the discontinuation of the Roadster in 2012, Tesla embarked on producing the Model S sedan. The year 2015 marked a significant leap as Tesla delved into energy storage solutions, introducing the Powerwall for homes and Powerpack battery packs. This period also saw the introduction of the Model X, an SUV that expanded Tesla’s offerings.
Solar Integration and Model 3: A Comprehensive Transformation
In 2016, Tesla’s acquisition of SolarCity extended its influence into the realm of solar energy. Simultaneously, the company dropped “Motors” from its name, reflecting a broader focus encompassing electric vehicles, solar, and energy solutions.
Profits from preceding EV models and ventures fueled the development and production of the Model 3 sedan. Despite encountering production challenges, the Model 3 emerged as one of the best-selling EVs, combining affordability with Tesla’s cutting-edge technology.
Model Y and Beyond: A Continuing Evolution
After a three-year gap, Tesla unveiled the Model Y crossover in March 2020, further diversifying its lineup. This model, along with the Model 3, has become a major player in Tesla’s current sales, overshadowing the original S and X models, which underwent significant refreshes recently.
Tesla’s global expansion includes the development of two new Gigafactories and the introduction of three additional vehicles: the Cybertruck, the Tesla Semi, and a second-generation Roadster, showcasing the company’s ongoing commitment to innovation.
Current Tesla EVs: A Comprehensive Overview
As of now, Tesla boasts four electric vehicles, each catering to different preferences and needs. The veteran Model S, Tesla’s longest-running production EV, still maintains its status as a premier sedan, offering luxury and performance. The more budget-friendly Model 3, the largest Model X, and the recent Model Y, a smaller crossover SUV, complete Tesla’s current EV lineup.
The Model S, in its Long Range trim, can cover 405 miles on a single charge, reaching a top speed of 155 mph and accelerating from 0-60 mph in 3.1 seconds. Recent enhancements introduced the Plaid and Plaid+ trims, with the latter initially claiming an EPA-estimated range of over 520 miles. The Model S Plaid, already available, sets unprecedented records for speed and performance.
As Tesla continues to redefine the automotive landscape, these models represent the culmination of years of innovation, pushing the boundaries of electric mobility.
Tesla’s largest electric vehicle (EV), the Model X, has held its position as the automaker’s second-longest-running model after the Model S. Despite being unveiled in 2012, the Model X faced production delays, particularly with its distinctive Falcon Wing doors, leading to its first deliveries in the fall of 2015. Initially a top-selling plug-in EV globally, its popularity slightly waned with the introduction of the more affordable Model 3 and Model Y. The Model X received its first substantial update earlier this year, offering dual-motor AWD and a tri-motor Plaid option. The dual-motor Long Range variant has a range of 360 miles per charge, a top speed of 155 mph, and accelerates from 0-60 mph in 3.8 seconds. The Plaid version boasts an EPA-estimated range of 340 miles, a top speed of 163 mph, and accelerates from 0-60 mph in 2.5 seconds, with deliveries expected in mid-2022 due to earlier delays.
The Model 3, introduced in 2017 as Tesla’s affordable EV, has become the world’s best-selling all-electric vehicle. Originally offered at $35,000, the base model was quietly removed during the 2021 refresh, with the current Standard Range Plus trim priced at $41,990. The Model 3 is available in three drivetrains: Standard Range Plus (263 miles range, 140 mph top speed, 0-60 in 5.3 seconds), Long Range (353 miles range, 145 mph top speed, 0-60 in 4.2 seconds), and Performance (315 miles range, 162 mph top speed, 0-60 in 3.1 seconds).
Introduced in 2019, the Model Y is Tesla’s compact crossover, succeeding in making a significant impact on EV sales. Initially planning a Standard Range Model Y, Tesla shifted to offering dual-motor AWD trims: Long Range (326 miles range, 135 mph top speed, 0-60 in 4.8 seconds) and Performance (303 miles range, 155 mph top speed, 0-60 in 3.5 seconds). The Standard Range RWD Model Y remains available as an “off menu” item due to Elon Musk’s dissatisfaction with its 244-mile range.
Tesla’s upcoming EV, the Cybertruck, promises a modern take on the pickup truck. Unveiled in 2019 with a distinctive exoskeleton and armored glass, the Cybertruck has garnered significant pre-orders. Three powertrain options include a single motor RWD (EPA range 250+ miles, 0-60 in under 6.5 seconds), dual-motor AWD (range 300+ miles, 0-60 in under 4.5 seconds), and tri-motor (EPA range over 500 miles, 0-60 in under 2.9 seconds). Originally set for late 2021 deliveries, the Cybertruck has been delayed to 2022, and recent changes in Tesla’s website have raised concerns.
Tesla Semi
Positioned as Tesla’s inaugural commercial offering, the Tesla Semi emerges as a robust workhorse. Unveiled in November 2017, the Semi boasts a distinctive centrally positioned driver’s seat, propelled by four rear powertrains.
Tesla’s website details the Semi’s range options of either 300 or 500 miles, contingent on the battery pack. Elon Musk has expressed that the truck is expected to achieve up to 621 miles of range eventually. Priced between $150,000 and $180,000, depending on battery size, the Semi is projected to yield significant gas savings, surpassing $200,000 for owners.
Initially set for a 2019 release, the Semi faced delays, with low-volume production rescheduled for 2020, later moved to 2021 during a Q1 2020 results call. Despite setbacks, major companies like Budweiser, Walmart, and UPS have expressed interest, with Tesla planning to deliver 15 Semis to PepsiCo this year.
Current production of Semi trucks is underway at Tesla’s Nevada Gigafactory, with a new production line aiming for five trucks per week. Subsequently, production will transition to Tesla’s Gigafactory Texas in Austin later this year. Presently, the focus lies on service technicians and infrastructure between Tesla’s Fremont Factory and Gigafactory Nevada.
Although still in the prototype stage, recent sightings suggest updated versions of the original 2017 prototypes. Tesla is inching closer to full-fledged production in 2021, though past delays have made this timeline uncertain.
Second-generation Roadster
In homage to its groundbreaking original electric vehicle, Tesla is set to release a second-generation Roadster with unprecedented specifications, possibly including an unconfirmed ability to hover.
Tesla’s CEO envisions the Roadster redux boasting a 620-mile range and accelerating from 0-60 mph in a mere 1.9 seconds. Elon Musk tantalizingly hints that these figures are just the “base specs,” suggesting even more impressive performance. Reservations for the new Roadster, as well as a limited Founders Series Roadster, are currently being accepted on Tesla’s website.
While the specifics of the extra $50,000 for the Founders Series remain unclear, reservations are capped at 1,000, making it a potential collector’s item. The Founders Series Roadster is priced at $250,000, compared to the more affordable $200,000 for the regular Gen. 2 Roadster.
Initially projected for delivery in 2020, then 2021, and later delayed to 2022 to prioritize the Cybertruck, Tesla now targets 2023 for the debut of the Gen. 2 Roadster. However, this hinges on the automaker avoiding long-term effects of the global supply chain shortage, posing a significant uncertainty.
Tesla Manufacturing Facilities
Originally founded and headquartered in the US, Tesla has expanded its sales and production globally. Currently operating three facilities in addition to the original Fremont Factory in California, Tesla has two more facilities under construction.
Ongoing rumors circulate about Tesla’s potential expansion, including an additional factory in China or ventures into other parts of Asia like Japan, Korea, or India. The current operational and upcoming Gigafactories include:
- Fremont Factory – California
- Gigafactory 1 – Giga Nevada
- Gigafactory 2 – Giga New York
- Gigafactory 3 – Giga Shanghai
- Gigafactory 4 – Giga Berlin (under construction)
- Gigafactory 5 – Giga Texas (under construction)
For the latest updates on Tesla’s Gigafactories, refer to our dedicated coverage.
Solar:
In 2016, Tesla acquired SolarCity with the aim of becoming a comprehensive energy solutions provider. Despite this goal, Tesla’s solar endeavors have faced challenges and criticism.
The introduction of Solar Roof tiles was followed by delays and production issues, with only one tile style installed on customer roofs despite initial plans for four styles. Customers experienced delays in solar roof installations, and discontent grew due to price hikes and policy changes, including the discontinuation of the solar subscription service introduced two years prior.
Tesla employees are now being mobilized to oppose a new tax proposal in California, a significant market for the company.
Recent developments include Tesla bundling solar products and Powerwall together, offering free Powerwalls with increased solar roof prices, and hiking prices on contracts signed over a year ago.
Powerwall and Powerpack:
Tesla Energy produces rechargeable lithium-ion battery storage products, the Powerwall for homes and the larger Powerpack for commercial or utility grid use. A new Powerwall 2 Plus, boasting increased capacity, has entered production, and Tesla is actively addressing a backlog of 80,000 Powerwall orders worth over $500 million.
Supercharger Network:
Tesla’s proprietary Supercharger network, introduced in 2012, has expanded globally to over 20,000 stalls in 2,100 stations. Some stations feature numerous stalls, such as the world’s largest 72-stall station in Shanghai. Elon Musk announced plans to upgrade the Supercharger network to support faster 300 kW charging.
Tesla Bot:
At AI Day in 2021, Tesla unveiled plans for a humanoid robot called Tesla Bot. While specifics about its capabilities remain limited, Elon Musk envisions it replacing “dangerous, repetitive, and boring tasks.” The company has initiated the hiring of roboticists for the project, suggesting production may occur in Texas.
Tesla FAQ:
The frequently asked questions cover various aspects, including the cost of Tesla vehicles, charging times, charging costs, and leasing options. Tesla’s diverse models and features contribute to varying costs, and charging times and costs depend on factors such as location and charger type. Leasing is an option, but thorough research is recommended before deciding on leasing over purchasing.