Summary of project
Introduction
Tesla is an American electric automobile manufacturer and one of the best automobile companies in the world. Tesla is not the only electric automobile manufacturer, they also produce solar roof.
Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning and the company was named after Serbian American inventor Nikola Tesla (Schreiber and Gregersen, 2013).
Tesla got funding from a lot of different sources, but the main source is from PayPal co-founder Elon Musk. Musk funded $30 million to serve as chairman of the company in 2004. In 2008, Eberhard and Tarpenning announced their leave from the company but Eberhard still holds his share of the company.
Musk became a CEO of Tesla after Eberhard and Tarpenning left the company. The series of electric automobile that Tesla was produced are Model S, Model X, Model 3, 2020 Roadster, Tesla Semi, and Model Y.
History
Tesla first electric car Roadster was released in 2008, the car which grabs the attention of the world. Roadster, the performance of this electric car was comparable to many of gasoline-powered cars in the industry.
A single charge of a battery can drive up to 245 miles. Also, the Roadster electric car is very impressive when it comes to acceleration; it can accelerate from 0 to 60 miles in less than 4 seconds. I
t can also speed up to 125 miles per hour. One special feature about Tesla’s electric motor is that the battery is made up of lithium-ion cells which is the same battery used in the laptop computer. This will allow the electric vehicle to recharge from a standard electric outlet. Tesla stopped releasing its Roadster series in 2012, and the company started to focus on releasing the new model which is the Model S sedan. The performance of the Model S series is better than Roadster’s, it can accelerate from ì0 to 60 miles per hour.
(Schreiber and Gregersen, 2013) and can speed up to 130 miles per hour. Model S vehicle carries the battery underneath the floor, which gave extra storage space in the front (Schreiber and Gregersen, 2013).
In 2014, Tesla came out with a new Model S version which has a new feature called Autopilot. In 2015, Tesla has produced the Model X which can drive up to 295 miles and it is a seven-seater vehicle.
TESLA INC 5 In 2017, Tesla has released an inexpensive vehicle named Model 3 which starts from $35,000. It has four doors and can drive up to 220 miles. In 2012, Tesla has built stations called Superchargers across the USA and Europe, which allowed Tesla vehicle’s owner to charge the vehicle quickly without any cost.
Tesla also produced solar energy products, not just electric vehicles. Tesla bought the solar panel company SolarCity in 2016 (Schreiber and Gregersen, 2013). Tesla revenue $3.36 billion from automotive and $374 million from the energy and storage division. Their revenue of automotive increased by 46.8% compared the past year and energy and battery storage division revenue increased 30.6% compared to last year. (Prenzler, 2018)
Phase 2: Strategic framework
For the first time in company history, back to back quarter (Q3 and Q4) brought in profit for Tesla to end the year of 2018. Tesla and Elon Musk had very high expectations going into 2019, as Elon stated the company will be profitable going forward.
However, a few months into 2019, Tesla has had more of the same problems in the past; which is finances. Looking internally at the company will help to get a better understanding of why Tesla is in their current financial position…
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