Nowadays, there is a lot of controversy regarding climate change and fossil fuels. Electric cars are presented as a great alternative and, among manufacturers, Tesla is one of the companies most committed to this technology. Discover, below, the history of the company that is revolutionizing the automotive sector.
What is Tesla?
It is a technology company based in Silicon Valley, California. It produces 100% electric vehicles and one of its founders is Elon Musk (famous entrepreneur creator of Space X or PayPal). The company’s name is given by the electrical engineer Nikola Tesla.
Read on if you want to know more curiosities about this company.
Which group does Tesla belong to?
Tesla Inc. is a large company that does not belong to any group. It is primarily engaged in the automotive business, although it also develops technology for the workplace and the home.
Brief history of Tesla
In 2003, Elon Musk, Martin Eberhard and JB Straubel founded Tesla Motors. In the beginning, it was Musk himself who invested capital, but it took several rounds of financing to be able to produce a 100% electric sports car. In 2008, after some financial problems, production of the two-seater Roadster, inspired by Lotus, began. In June 2010 it made its first foray into the stock market, specifically on the NASDAQ, and has now multiplied by 20 times its initial value per share.
A few years ago came the production of more traditional vehicles such as the Model X or the Model S. Likewise, since 2017 the Model 3 has been on sale, whose pre-sale marked a milestone in the history of the firm due to its high demand in just a few days.
What does the Tesla logo mean?
It may seem extremely simple, because it clearly identifies a “T”. Although Elon Musk claims that it is not only that, but it alludes to the cross section of an electric motor in which the stator in central position and the rotors are distinguished. In other words, it represents the transformation of energy into motion.
Why is the company immersed in an ongoing institutional crisis?
The company’s capital comes from private investments, and the 2007 real estate crisis hit it hard. At the end of that year, Musk got rid of his partners because he believed they did not have a perspective that would allow them to move forward.
In 2008 he also laid off 25% of his workforce to reduce his capital burn. In October of that year he was forced to take back the CEO position, which he had relinquished in favor of Martin Eberhard, and to push for a new round of funding that managed to save the company from bankruptcy.
By 2009, they had delivered only 147 electric cars, so there were no profits to sustain profitability. As a last resort, Musk again invested a personal 70 million to keep the company going.
In 2009, the holding company Daimler AG, maker of Mercedes Benz, acquired a stake in the company. This was important, because if a company of the stature of the German company was looking at Tesla, it was because the electric car industry was not a pipe dream.
Strategic alliances
In order to improve its status in the automotive sector, the company has entered into various partnerships with companies such as the Lotus Group, in 2011, to manufacture aerodynamic cars and the electric Roadster. On the other hand, in 2010 it partnered with Toyota to develop parts, electric cars and production systems, as well as to provide engineering support. As a result of this first collaboration, the RAV4 EV was born.
Major incidents at the company
Undoubtedly, the most talked-about incidents were the fires of three Model S, which caused the shares to fall by more than 20%. These fires were caused by various high-speed crashes, but in all cases the vehicles warned the occupants of the battery damage and the eviction of the vehicle.
The owners of these vehicles, again, relied on Tesla Model S to replace the damaged ones, and the firm then developed a battery protection system for all such cars.
Historic Tesla models
Its first model was the Tesla Roadster. Convertible, two-seater, electric propulsion, rear-wheel drive and Lotus bodywork. Efficiency and sportiness were combined in a single vehicle and, in two years, more than 2,000 units were sold.
In 2012, a 5-meter luxury liftback, the Model S, was launched to compete with the Lexus LS, Mercedes-Benz S-Class and Audi A8. With 7 seats and a very futuristic interior design, it was a disruption in the premium sedan segment.
For its part, the Model 3 is a new starting point for the company. It is an affordable product, in which technology is still present with AutoPilot, for example.
Historic Tesla models
Its first model was the Tesla Roadster. Convertible, two-seater, electric propulsion, rear-wheel drive and Lotus bodywork. Efficiency and sportiness were combined in a single vehicle and, in two years, more than 2,000 units were sold.
In 2012, a 5-meter luxury liftback, the Model S, was launched to compete with the Lexus LS, Mercedes-Benz S-Class and Audi A8. With 7 seats and a very futuristic interior design, it was a disruption in the premium sedan segment.
For its part, the Model 3 is a new starting point for the company. It is an affordable product, in which technology is still present with AutoPilot, for example.
Cybertruck, a pickup of the future
Inspired by Blade Runner, this pickup, which will go on sale in 2021, will be a game changer in this segment. It has a triangular design (no curved body surface), a monocoque chassis, four doors, six seats, a large load capacity and an ultra-strong steel construction. At the official presentation, the doors were not deformed by hammering, although the windows ended up cracked.
In short, Tesla was conceived as an alternative to combustion vehicles and today is at the forefront of this technology.