Tesla has grown to become a world-renowned automaker and clean energy company. Its prowess is largely owed to its penchant for innovations that push the envelope with modern technology. Tesla Motors was founded to develop a sports car with an electric powertrain. The company initially had Martin Eberhard as CEO and Marc Tarpenning as CFO. Elon Musk would come in through PayPal to fund this venture. He would contribute $30 million and take on the role of company chairman.
The venture would produce the company's first car, the fully electric Roadster. The Roadster would pioneer a new age of electric cars by achieving a record all-electric range among production cars. It could do up to 245 miles on a full charge. It delivered competitive performance akin to what you would expect of a gas-powered sports car. The Roadster could reach 60 mph in just four seconds and had a top speed of 125 mph. No tailpipe emissions made it extremely eco-friendly, a sentiment initially alien to sports cars.
In 2010, Elon Musk became CEO taking the reins of the fast-growing company. Roadster production stopped, and Tesla focused on developing the new Model S sedan. The Model S would quickly gain praise from automotive critics for its cutting-edge design and performance. Depending on the selected battery pack, it could reach between 235 and 300 miles on a full charge. It could accelerate up to 60 mph in four seconds and had a top speed of 135 mph. Placing the battery pack under the floor allowed for adequate cargo storage space. This innovative setup would also enhance its handling and safety.
Tesla AutoPilot technology was introduced in 2014, giving the Model S and its successors semi-autonomous driving capabilities. Installing Supercharger stations in Europe and the US allowed its clients access to quick recharging facilities at no cost. Further prowess would allow these stations to enable battery replacements for the Model S. Tesla would release the acclaimed Model X in 2015. This Model was built as a crossover giving it a seating capacity of up to seven. Its battery pack would also allow it to have a range of up to 340 miles.
The automaker would ensure its market presence by upscaling vehicle and battery production. Tesla would begin building Gigafactories in 2016. The company quickly realized the need for an affordable option. As such, it began production of the Model 3 in 2017 and the vehicle had a range of 353 miles. Its all-glass roof gave it incredible aesthetics. The popularity of this Model would make it the best-selling electric car of all time and the automaker's best-seller. Tesla would later release the crossover Model Y in 2020. There are many more designs earmarked for future production.
Tesla's reach extends beyond the automotive industry by venturing into solar energy products for regular use. The 2016 acquisition of SolarCity would cement this venture. The company would produce Powerwall batteries, roof solar panels, and energy-generating roofing tiles. Changing the company's name to Tesla Inc. would accommodate all aspects of its ventures.