History of Tesla Company: how the popularity of electronic cars began
It is assumed that the history of the company Tesla is largely based on the personality of Elon Musk. In part, this is true that the billionaire has really played a key role in the formation of a corporation. However, he did not create it. These and other facts from the life of Tesla are described in our material.
Even without Musk: how did Tesla Motors start
Tesla Motors (as it was called at the start of the journey) appeared in 2003. It was founded by engineer Martin Eberhard and sports car lover Marc Tarpenning.
Martin was a specialist in batteries, did not know anything about the operation of the machine, but wanted to create its variation with the lowest possible fuel consumption. As a result, he began developing a lithium-ion battery that would, in principle, allow you to do without gasoline.
Murk, in turn, was well versed in cars and at some point in his life became interested in the problem of global warming. Having rummaged, he found out that modern cars are strongly dependent on oil reserves. Then Murk thought about a humane vehicle.
So two different people agreed to create an innovative and useful car.
Elon Musk joins the Company
Implementation of the planned thing required impressive funds. Martin and Murk did not have them. But start-up capital, as is often the case, was provided by billionaires of Silicon Valley. In addition to Elon Musk, the creators of Google, Larry Page and Sergey Brin also invested in Tesla Motors. But if for them the help of the company was a simple investment, then Musk seriously became interested in its development. He took up the development strategy, entered the board of directors of Tesla Motors and headed it. Total billionaire invested in the company more than 70 million dollars of own funds.
Start-up period of Tesla
As far as attracting money from Musk and other venture capitalists, Tesla Motors was preparing to release the first model. In 2005, a contract was signed with the British automaker Lotus. He supplied cars without transmissions to Tesla. Their filling was replaced, instead of engines installed batteries.
The debut car was named Tesla Roadster. She was presented in 2007, but the model appeared on sale already in 2008. The cost of the car was $ 100,000. For 4 years (the term of the contract with Lotus) just a little more than 2500 units left the assembly line.
The first failures of the Company, the crisis, the loans and the new rise
Due to poor sales of Tesla Roadster and problems with timely delivery of the car, the Company was on the verge of a crisis. Director Ze’ev Drori designated in 2007 could not save the Company. As head, he was replaced by Musk, but he also failed. However, thanks to investments of Elon Tesla it remained afloat.
In 2008, it was announced the family auto Tesla Model S. In the summer of 2009, Daimler AG bought 10% of the Company for $ 50 million.
The need for finance forced Tesla to take a loan from the US Department of Energy. But the Company returned the debt of $ 465 million earlier than it should have.
Over time, the automaker’s business improved. An IPO conducted in 2010 made it possible to attract another 26 million.
In addition to the development of auto Tesla also began to build a network of electric stations. Firstly in the USA and then in other countries of the world. Today there are more than 200, and the density of stations in America allows you to cross its territory on Model S.
The history of Tesla in recent years
Having survived a 20% drop in shares due to the Model S ignition when tested in 2013, the company embarked on a growth path. By the summer of 2014, the number of Model S units sold reached 20,000, and Tesla quotations on stock markets soared by 47%.
The company’s capitalization has increased. On 18 September 2017, it was just over $ 64 billion. This is higher than General Motors, Mitsubishi, Ford Motor, Suzuki and Isuzu.
In the third quarter of 2018, Tesla made a profit of $ 311 million. Such indicators provided sales of Tesla Model 3 – one of the latest cars of the Company.