World's most valuable automaker Tesla wasn't built overnight. While Elon Musk is synonymous with the brand today, Tesla's story began before he came on board. With reports swirling about Tesla’s imminent entry into India, here’s a look at its journey and major milestones:
WHO FOUNDED TESLA
Elon Musk is often seen as the face of Tesla, but Tesla was founded in 2003 by engineers Martin Eberhard and Marc Tarpenning in San Carlos, California. Musk joined in 2004, investing $30 millio and quickly becoming a driving force in Tesla’ growth. It was originally called Tesla Motors, a name the company would truncate in 2017.
HOW DID ELON MUSK TAKE OVER TESLA
In 2007, Tesla’s Board of Directors asked co-founder Martin Eberhar to step down as CEO. He remained on the company’s advisory board and moved to the role of President of Technology for short time. Investor Michae Marks briefly took over before Ze’ev Drori became the company’s CEO.
In October 2008 Musk took over as CEO and implemented major cost-cutting measures, including laying off about 25% of Tesla’ workforce.
The transition was contentious. Before Tesla delivered its first car, both Eberhard and co-founder Marc Tarpenning officially left the company. Eberhar later alleged that he was forced out. In 2009, he filed a lawsuit against Musk and Tesla for libel an slander but later dropped the case.
TESLA’S FIRST CAR
Tesla’s first production car, the Roadster, debuted in 2008 with a 250-miles range per charge and performance rivaling sports cars. However, its $100,000 price tag made it inaccessible to most buyers.
Charging time was another challenge on a standard home outlet, the Roadster took 24 to 48 hours to fully recharge. Despite these hurdles, it attracted high-profile buyers including Georg Clooney.
Did you know? The first roadster was delivered to Elon Musk In February 2008.
TESLA TIMELINE
2003: Founded by engineer Martin Eberhar and Marc Tarpenning in San Carlos, California. It was originally called Tesla Motors.
2004: Elon Musk become the chairman of it board of directors
2006: Tesla reveals the prototype of its firs electric vehicle the two-seater Roadster sport car, to an exclusive audience of 35 in Santa Monica California
2007: Ze’ev Drori become CEO and President of Tesla
2008: Tesla begins sellin cars; the Roadster i its first product to go on sale
2009:
- Martin Eberhar sues Tesla and Elon Musk for libel and slander.
- He later dropped the suit Tesla had to recal 345 Roadsters due t mechanical issue that compromise driver control Unveils its second car the Model S sedan.
- During the financial crisis, car manufacturer Daimler took an equity stake of nearly 10% in Tesla.
2010: Purchases the NUMMI plant in Fremont California from Toyota. Becomes the first US automaker to go public since Ford in 1956.
2011: A near-production prototype of the new Model S, price around $75,000 unveiled
2012:
- Ceases production of the Roadster
- Opens its first free-standing charging stations the Superchargers, in California
- Unveils the Model X SUV, the company’s mos luxurious car yet
- The car later became the world’s best-sellin plug-in EV in 2015 and 2016
2013: Reports its first-eve quarterly profit in the firs quarter of 2013
2014: Debut of the first autopilo system
2015: Launches the autopilot t customers
2016:
- Enters solar installation business with the purchase of SolarCity in controversial deal
Unveils Model 3
- It was the world’s top-sellin plug-in electric car for thre years, from 2018 to 2020
2017:
- Tesla Motors renamed to Tesla Inc
- Consumer Reports named Tesla the top-ranke American car brand
- Owen Diaz, Tesla worker sues the compan for racism. Tesl settled the lawsui in 2024 after tw separate jury trial ended in Diaz’ favour
2018:
- In August, Musk’s tweet about taking Tesla private led to controversy, lawsuits and an SEC fraud charge
- He paid a $20 millio fine and stepped dow as chairman
- He was allowed to stay on as CEO.
Musk’s 2010 Tesla Roadster and its driver Starman, mannequin in a spacesuit hitched a ride into solar orbit aboard SpaceX’s Falco Heavy on its first flight
2019: Reveals it fourth vehicle the Model Unveil Cybertruck
2020:
- On January 10, Tesla topped $86 billion, becoming the most valuable American automaker to ever exist
- Added to the S&P 500 Index
2021: On October 25 Tesla valuation reached $1 trillion
2022:
- Delivers first Sem trucks five years after Musk revealed it
- Lays off 10% o salaried staff
2023: Begins deliverin the Cybertruck t customers afte years of delay
2024: A US judge blocked Elon Musk’s $56 billion compensation package as Tesla CEO. The package would have made Musk the highest-paid executive ever.
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