Tesla Motors History

1. History

Tesla Motors (often shortened to Tesla) is an American automaker and energy storage company co-founded in July 2003 by Elon Musk, Martin Eberhard, Marc Tarpenning, JB Straubel and Ian Wright, and is based in Palo Alto, California. The company specializes in electric cars and their powertrain components and also produces battery charging equipment.

2. Company Profile Tesla Motors, Inc., incorporated on July 1, 2003, designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles,

Model X provides approximately 260 miles of range on a single charge, and accelerates from zero to 60 in approximately 3.2 seconds. Model X seats approximately seven adults and incorporates a falcon wing door system for access to the second and third seating rows. The Tesla Energy product portfolio focuses on including energy storage products with a range of applications, from use in single homes to use in utility-scale projects. Tesla Powerwall is a rechargeable lithium-ion battery designed to store energy at a residential and small commercial level for load shifting, backup power and self-consumption of solar power generation.

The Company provides service for its electric vehicles at its company-owned service centers, at its Service Plus locations or, in certain areas for an additional charge, through Tesla Ranger mobile technicians providing services that do not require a vehicle lift. The Company owns and operates approximately 120 service locations. It offers loans and leases for its vehicles in North America, Europe and Asia primarily through various financial institutions. It also offers financing arrangements directly through its local subsidiaries in certain areas of the United States, Germany, Canada and the United

Pricing for the premium special version of the Model X varies between US$132,000 and US$144,000.[36] Model X sales totaled 2,400 units during the first quarter of 2016. According to Tesla Motors, deliveries were lower than expected because production was impacted by severe Model X supplier parts shortages in the first two months of 2016.[64] Sales during the second quarter of 2016 totaled 4,638 units. Although Tesla's production was up 20% from the previous quarter, the number of vehicles in transit at the end of June 2016 was much higher than expected (5,150 including Model S cars), representing 35.8% of the number of cars delivered in the quarter (14,402 vehicles including the Model S).[86] Global sales passed the 10,000 unit mark in August 2016, with most vehicles delivered in the United States.[262] Global deliveries totaled 8,774 units during the third quarter of 2016.[88] As of September 2016, a total of 16,024 units have been delivered worldwide.[86][87][88][263] The United States is the main market with 13,536 units delivered through October