Tesla Inc. is an electric vehicle manufacturer and clean energy-focused company with Headquarters in Palo Alto, California, United States.
The company was founded in 2003 by two engineers Martin Eberhard and Marc Tarpenning. Elon Musk, who is the current Tesla CEO has the majority stake in the company. Tesla trades on the Nasdaq exchange under the ticker TSLA. The company went public on June 29, 2010.
Tesla designs, develops, manufactures, and sells electric vehicles and designs, manufactures, installs, and sells solar energy generation and energy storage products. Tesla has two main product lines which include automotive, and energy generation and storage. Popular Tesla’s electric vehicles include Model 3, Model Y, Model S, and Model X. Its energy storage products include Powerwall and Powerpack.
Tesla Main Competitors
- General Motors;
- Honda Motors Company;
- Ford Motor Company;
- Nio Inc.;
- Lucid Motors;
- Xpeng Motors.
Key Tesla Milestones
On November 3rd, 2008, Tesla evaded bankruptcy after securing a $40 million financing commitment. The company’s financial situation had worsened in the wake of the 2008 financial crisis.
On March 26, 2009, Tesla unveiled its Model S prototype. The first generation Model S had a range of more than 300 miles per charge and could go from 0 to 60 mph in about 5.5 seconds.
On November 21, 2019, Tesla unveiled the Cybertruck marking the company’s first passenger truck with an estimated 14,000 pounds of towing capacity.
In 2020, as the rest of the stock market was witnessing a massive crash, Tesla stocks had risen significantly. By November 30, 2020, Tesla’s stock price had increased by 580% YTD. Additionally, in 2020, Tesla performed a 5-for-1 (5:1) forward split meaning that for every 1 share of Tesla owned, investors received 4 additional shares. The price per share decreased, but the number of shares increased.
Tesla Frequently Asked Questions
How many times has Tesla split its stock?
Since going public, Tesla has had only one split. The split for TSLA took place on August 31, 2020, on a 5:1 basis.
Does Tesla pay dividends?
Since going public, Tesla has never declared dividends on its common stock. According to the company, it plans to retain all earnings to finance future growth. The company has ruled out any possibility of paying cash dividends soon.
How does Tesla promote its products?
Tesla does not have an advertising budget for its products. Instead, the company relies on word of mouth advertising. The company usually encourages existing customers to refer to potential customers. Additionally, the company has a huge interest from the mainstream media that help spread the word.