Tesla Motors
Tesla Motors
Overview
Tesla motors, a public company, is an US based automotive and energy storage company which designs, manufacture and retails electric vehicle (car), powertrain component and battery productss.was founded in 2003. The founder of company were Martin Eberhard, Marc Tarpenning Elon Musk, JB Straubel . Company has kept the name Tesla Motors in the name of electrical engineer and physicist Nikola Tesla. AC motor for Tesla roadster was conceptually directly taken from Teslas original 1882 design. Tesla roadster is the company’s first vehicle and lithium-ion battery cells was used. It can run greater than 320 km per charge.
Tesla motor launched its first electric sedan car name Tesla model-S on March26,2009 and started delivery on June,2012. Another Model X was created in September ,2015. Tesla Model 3 which was designed for the mass market, was disclosed in March 2016.
History
Martin Eberhard and Marc Tarpenning had incorporated the company in July 2003 and financed the company til the Series A round funding. Eberhard resign from CEO Tesla motor in August-2007as desired by board of director . He became President of Technology and quitted the company in January 2008 along with Tarpenning. Elon Musk became chairman and headed the Series A round of investment in February 2004 . Musk set a goal to make Tesla motors as a affordable mass market vehicle. Musk was awarded by Global Green 2006 product design award and 2007 Index Design award.
For Series A round of investment company included Compass Technology Partners and SDL Ventures, as well as many private investors. Later on, for Series B round of funding was included Valor Equity Partners to the funding team. The third round add investment from prominent entrepreneurs such as google cofounder,e-bay president and others.
Zeev Drori appointed CEO and President of the company in December 2007. On the recommendation of Drori, company has fired its 25 % of Tesla employees. Drori promoted as a vice-chairman of company. In December 2008 Drori left the company. Tesla raised money from various means by selling its stack or by lending money from market in 2009. In july 2009 company showed his profit US$1 million on revenue of US$20 million .
Corporate strategy
Teslas strategy has been to compete with typical technological-product life cycles and initially enter the automotive market with an expensive, high-end product targeted at wealthy buyers. When product of company was accepted by consumer, then company has moved into larger, more competitive markets at lower price points.