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The Rise Of Tesla Motors Essay

1420 words - 6 pages

The car market has been ran by companies such as Volkswagen, Toyota, Ford, BMW, and many other companies, but one of the newer, up and coming companies in this market is Tesla Motors Inc. Tesla has been around for a little over 10 years, and have come quite a long way from where they began. Tesla now sells luxury electric vehicles different than any other electric vehicles today, and they have big plans for expansion in the future. Tesla may not be one of the biggest car companies today, but one day they will be considered alongside companies such as Toyota and Ford.
Tesla is one of the newest car companies around, but they have had a long road to where they are today. Martin Eberhard and Marc Tarpenning founded Tesla Motors in July 2003 in California, and in April 2004 Billionaire PayPal founder Elon Musk invested in Tesla and joined the board. Musk became the CEO of Tesla in 2008, and still holds that position today. In March 2008 Tesla began production their first car, the $109,000 Roadster. Tesla eventually sold 2,150 Roadsters. In June 2010, Tesla shares begin trading on the Nasdaq Stock Exchange, and they gain 40.5 percent from their Initial public offering (IPO) price of $17 to close at $23.89. The IPO raises $226.1 million. Even starting out strong on the stock exchange, in January 2011 Tesla, reporting full-year financial results for the first time, says it lost $154.3 million in 2010. In 2012, Tesla started selling their most successful car to this day, which was the Model S. It has been estimated that they sold over 25,000 Model S vehicles during 2013. It was not until 2013 when Tesla started seeing a profit over their 10-year existence. The road to where they are today was not an easy one, but now things are looking up for the young company. Tesla stock is being sold at over $200 a share, and according to BusinessWeek, Tesla is worth over 20 Billion dollars. This is already higher than companies such as Mazda and Suzuki. This is far from companies such as Toyota, but one day Tesla could be one of the top car companies around.
What makes Tesla different than every other car company? They sell electric vehicles, and electric vehicles only. The most popular car Tesla has released is the Model S, which is a luxury electric sedan that sells for $70,000. The Model S was voted the Motor Trend Car of 2013, and according to Tesla is one of the safest cars ever, but there is one big difference from any other electric car. The battery in each Tesla car is actually made up of thousands of lithium-ion cells, which is different than most electric vehicles. Electricity charges a battery to give the Model S power for a certain period of time, and is similar to a laptop or smartphone. In fact, the company uses lithium-ion batteries just like the type that powers laptops worldwide. This is the key difference between a Tesla electric car and a hybrid, it is all electric and has to be charged, but a car such as a Prius runs partially on gasoline but...

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