Tesla

Tesla (NASDAQ: TSLA) is an American multinational automotive and clean energy company. It designs and manufactures electric vehicles (EVs; including cars and trucks), battery energy storage systems, solar panels, solar roof tiles, and other related products and services. Tesla was incorporated in 2003 as Tesla Motors, named after the inventor and electrical engineer Nikola Tesla. Entrepreneur and investor Elon Musk became the largest shareholder of the company following an investment in 2004 and has been serving as the CEO of Tesla since 2008. Even though Tesla accounts for only around 1% of the global vehicle market share (as of March 2022), it is one of the largest listed companies globally. The company reported revenue of USD 96.8 billion in 2023 and hit a market cap of USD 1 trillion in October 2021 for the first time, after 11 years since listing—joining only a handful of companies to have done so. Tesla steered its way to the top 100 of the Fortune 500 list for the first time in 2021 and remained within the cluster in 2023 as well.

Tesla primarily offers automotive models under the "Model 3," "Model Y," "Model S," "Model X," and Cybertruck brands, all of which are considered either luxury or premium models, but based on their technology features. It also offers Supercharger network, internet connectivity, advanced driver assistance features called “Autopilot” and “Full Self-Driving” (FSD), and related over-the-air (OTA) software updates, in addition to automotive-related services and other offerings. Tesla also manufactures solar energy generation and energy storage products and provides related services.

The US and China are Tesla’s largest markets, accounting for ~47% and ~22% of revenue, respectively, in 2023. Tesla operates seven EV and battery manufacturing facilities worldwide—with five located in the US, one in China, and another in Germany—and plans to bring it up to 10–12 facilities. In 2023, Elon Musk officially announced his way forward for the company under “Tesla Master Plan Part 3,” which is about phasing out fossil fuels and promoting transition into sustainable energy. The company expects to start production of a new compact crossover codenamed "Redwood" at its Texas plant in 2H 2025. The company is also looking to start mass production of robotaxis by 2024 and bring a humanoid robot to the market in the years to come.