Tesla, Inc. facts for kids

Quick facts for kids
Tesla, Inc.

Gigafactory Texas, Tesla's headquarters, just outside of Austin, Texas
Formerly	Tesla Motors, Inc. (2003–2017)
Type	Public
Traded as	NASDAQ: TSLA Nasdaq-100 component S&P 100 component S&P 500 component
ISIN	ISIN: [https://isin.toolforge.org/?language=en&isin=US88160R1014 US88160R1014]
Industry	Automotive Renewable energy
Founded	July 1, 2003; 22 years ago (2003-07-01) in San Carlos, California, U.S.
Founders	Martin Eberhard Marc Tarpenning (See § Founding)
Headquarters	Austin, Texas , U.S.
Number of locations	1,359 sales, service and delivery centers 7,000 Supercharger stations
Area served	East Asia Europe Middle East North America Oceania Southeast Asia Indian Subcontinent
Key people	Elon Musk (CEO) Robyn Denholm (chair)
Products	Cybertruck Megapack Model 3 Model S Model X Model Y Powerwall Semi Solar Panels Solar Roof
Production output	1,773,443 vehicles (2024) 31.4 GWh battery energy storage systems (2024)
Services	Charging insurance maintenance
Revenue	US$97.7 billion (2024)
Operating income	US$7.1 billion (2024)
Net income	US$7.1 billion (2024)
Total assets	US$122.1 billion (2024)
Total equity	US$72.9 billion (2024)
Owner	Elon Musk (13%)
Number of employees	125,665 (2024)
Subsidiaries	Tesla Automation Tesla Energy
Primary ASN 394161
Footnotes / references Financials as of December 31,  2024 (2024 -12-31)[update]. References:

Tesla, Inc. is an American company that makes electric cars and clean energy products. Its main office is in Austin, Texas. Tesla designs, builds, and sells battery electric vehicles (BEVs), large batteries for storing energy, solar panels, and solar shingles. They also offer related services.

Tesla started in July 2003 as Tesla Motors. It was named after the famous inventor Nikola Tesla. In February 2004, Elon Musk helped fund the company and became its chairman. He became the chief executive officer (CEO) in 2008. Tesla began making its first car, the Roadster sports car, in 2008. Since then, they have released many other models, including the Model S (2012), Model X (2015), Model 3 (2017), Model Y (2020), Semi truck (2022), and Cybertruck pickup truck (2023).

Tesla is one of the world's most valuable companies. Since July 2020, it has been the most valuable car company globally. In 2024, Tesla was the top seller in the battery electric vehicle market, holding 17.6% of the market share.

Tesla has faced some challenges, including lawsuits and public criticism. These issues often relate to workplace concerns, vehicle safety, and statements made by Elon Musk.

Tesla's Journey: A Look Back

How Tesla Began (2003–2004)

Tesla Motors, Inc. was started on July 1, 2003, by Martin Eberhard and Marc Tarpenning. They wanted to create a car company that also focused on technology, especially batteries, software, and electric motors.

Ian Wright joined them a few months later. In February 2004, the company raised $7.5 million. Elon Musk invested $6.5 million of this money. He became the chairman and the biggest shareholder. J. B. Straubel joined in May 2004 as the chief technical officer. Later, in 2009, a legal agreement allowed all five – Eberhard, Tarpenning, Wright, Musk, and Straubel – to be called co-founders.

The First Car: Roadster (2005–2009)

Elon Musk became more involved in Tesla's plans. The company's idea was to first build an expensive sports car for early buyers. Then, they would use what they learned to make more common cars like sedans and affordable compacts.

Tesla raised more money in 2006 and 2007 from investors, including Google co-founders Sergey Brin and Larry Page. In August 2007, Martin Eberhard stepped down as CEO, and Elon Musk became CEO in October 2008.

Tesla started making the Roadster in 2008. By January 2009, Tesla had delivered 147 cars. In June 2009, Tesla received a $465 million loan from the U.S. Department of Energy. This money helped develop the Model S sedan. Tesla paid back the loan in May 2013.

Going Public and New Models (2010–2015)

In May 2010, Tesla bought a car factory in Fremont, California, from Toyota for $42 million. On June 29, 2010, Tesla became a public company, selling shares on the stock market. This was the first time an American car company did this since Ford in 1956. Tesla raised $226 million from this sale.

In October 2010, Tesla opened the Tesla Factory to build the Model S. In June 2012, they launched the Model S luxury sedan. The Model S won many awards and became the best-selling electric car worldwide in 2015 and 2016.

In 2014, Tesla introduced Tesla Autopilot, a system that helps drivers. All Tesla cars started to include the sensors and software for this feature. In April 2015, Tesla also entered the energy storage market with the Tesla Powerwall (for homes) and Tesla Powerpack (for businesses).

Tesla began shipping its third car, the Tesla Model X SUV, in September 2015.

Solar Energy and Model 3 (2016–2018)

In November 2016, Tesla bought SolarCity, a solar energy company, for $2.6 billion. This business joined Tesla's battery division to form Tesla Energy. In February 2017, Tesla Motors changed its name to Tesla, Inc. to show it was more than just a car company.

Tesla revealed its first mass-market car, the Model 3 sedan, in April 2016. It was more affordable than previous models. Tesla received over 325,000 reservations for it in just one week. To build the Model 3 faster, Tesla used many robots. However, this actually slowed down production at first. By the end of 2018, these problems were fixed, and the Model 3 became the world's best-selling electric car from 2018 to 2021.

Growing Globally and Model Y (2019–Present)

From July 2019 to June 2020, Tesla made a profit for four quarters in a row. This allowed them to be included in the S&P 500 stock index. In 2020, Tesla's stock price grew a lot, making it one of the most valuable companies in the US.

Tesla introduced its second mass-market car, the Model Y SUV, in March 2019. Deliveries began in March 2020.

Tesla also built new large factories, called Gigafactories. Gigafactory Shanghai in China started in January 2019 and began producing cars in December of the same year. Gigafactory Berlin in Germany started in February 2020 and began making Model Y cars in March 2022. Gigafactory Texas in the U.S. started in June 2020 and began making Model Y cars in April 2022.

During the COVID-19 pandemic, Tesla temporarily closed its Fremont Factory in March 2020. After a disagreement with local officials, Tesla moved its main legal headquarters to Gigafactory Texas in December 2021. However, Tesla still uses its former headquarters building in Palo Alto, California, and has expanded its presence there.

In early 2021, Tesla invested $1.5 billion in bitcoin. For a short time, they accepted bitcoin for car purchases. However, they stopped accepting it due to concerns about the energy used to create bitcoin. By July 2022, Tesla sold most of its bitcoin.

By early 2024, many major electric vehicle makers in North America announced they would switch to Tesla's North American Charging Standard (NACS) for charging their cars by 2025. In November 2023, Tesla started shipping the Cybertruck.

In April 2024, Tesla announced it was reducing its number of employees by 10%. In June, the company changed its official registration from Delaware to Texas. In October 2024, Tesla showed off concept versions of two self-driving vehicles: the Cybercab and Robovan. These are planned to be part of a future ridehailing service called the Tesla Network.

In December 2024, a court in Delaware rejected Elon Musk's large pay package from Tesla. The court ruled it was not properly approved by the company's board.

By February 2025, Tesla's stock price and sales in Europe decreased. This was linked to public criticism of Elon Musk's actions and statements. Sales in Germany, for example, fell significantly in February 2025 compared to the previous year. Protests and other actions against Tesla also occurred worldwide.

In July 2025, Tesla added Grok, an AI chatbot, to its vehicles through a software update. This allows for in-car chat features but does not control the car's functions. Also in July 2025, Tesla opened its first showroom in India in Mumbai, showing the Model Y.

Tesla's Vehicles and Services

As of November 2024, Tesla sells six vehicle models: Model S, Model X, Model 3, Model Y, Semi, and Cybertruck. The first-generation Tesla Roadster is no longer sold. Tesla plans to release a second-generation Roadster, the Cybercab, and the Robovan in the future.

Here is a list of Tesla models:

Tesla Models

Name	Year Made	Seats	Notes
Roadster	2008	2	Stopped production in 2012
Model S	2012	5/7
Model X	2015	5/6/7
Model 3	2017	5
Model Y	2020	5/7
Semi	2022	2
Cybertruck	2023	5
Roadster 2		2/4	Planned for 2025
Cybercab		2	Planned for 2026
Robovan		20	No set date yet

Current Vehicle Models

Tesla Model S

The Model S is a large car with a liftback design and all-wheel drive. It first came out in June 2012. The Model S has been updated twice, in 2016 and 2021. It was the top-selling plug-in electric car worldwide in 2015 and 2016.

Tesla Model X

The Model X is a mid-size luxury SUV. It can seat 5, 6, or 7 people and has all-wheel drive. Its unique rear doors open upwards like "falcon wings." The Model X was first shown in February 2012 and deliveries started in September 2015. It shares many parts with the Model S.

Tesla Model 3

The Model 3 is a mid-size car designed to be more affordable than the Model S. It can have all-wheel drive or rear-wheel drive. A prototype was shown in 2016, and deliveries began in July 2017. The Model 3 was the world's best-selling electric car from 2018 to 2021. Over 1 million units were sold by June 2021.

Tesla Model Y

The Model Y is a mid-size SUV that can seat 5 or 7 people. It is more affordable than the Model X. A prototype was shown in March 2019, and deliveries started in March 2020. The Model Y shares about 75% of its parts with the Model 3. In early 2023, the Model Y became the world's best-selling car overall, the first electric vehicle to do so.

Tesla Semi Truck

The Tesla Semi is a large semi-truck. Tesla says it has about three times the power of a regular diesel semi-truck and can travel 500 miles (800 km) on a single charge. Prototypes were shown in November 2017, and the first deliveries were made in December 2022. Tesla plans for full production by late 2025.

Tesla Cybertruck

The Cybertruck is a full-sized pickup truck. It was first announced in November 2019. Production began in July 2023, and deliveries started on November 30, 2023. It comes in different models, including rear-wheel drive and all-wheel drive. Its unique design, made from flat stainless steel, has received a lot of attention.

Future Vehicle Models

Second-Generation Roadster

Tesla showed the second-generation Roadster in November 2017. It is expected to have a very long range and be incredibly fast. It will have three electric motors for all-wheel drive. The base price was set at $200,000. Production is expected to begin in 2025.

Tesla Cybercab

The Tesla Cybercab, also called the Robotaxi, is a future two-passenger self-driving car. A concept version was shown in October 2024. This vehicle will not have a steering wheel or pedals. The production Cybercab is planned to be fully autonomous and released before 2027.

Tesla Robovan

The Tesla Robovan is an electric self-driving van that Tesla plans to develop. Announced in October 2024, it is designed to carry up to 20 passengers.

Past Vehicle Models

First-Generation Tesla Roadster

The original Tesla Roadster was a two-seater sports car. It was made from 2008 to 2012. It was the first electric car to use lithium-ion batteries and could travel more than 200 miles (320 km) on one charge.

Tesla's Services

Connectivity for Your Car

Tesla cars come with "Standard Connectivity," which provides navigation using a cell phone connection. For an extra fee, Tesla offers "Premium Connectivity." This adds live traffic and satellite maps to navigation, plus internet browsing and media streaming.

Vehicle Maintenance

Tesla aims to fix cars first by checking them remotely. If that doesn't work, a mobile technician can come to you, or you can go to a Tesla service center. As of October 2024, Tesla has 1,306 sales, service, and delivery centers worldwide. Tesla says it does not want to make a profit from car servicing.

In 2019, Tesla changed its advice, saying that its cars do not need yearly maintenance or regular fluid changes. Instead, they suggest checking brake fluid, air conditioning, tires, and air filters from time to time.

Charging Your Tesla

Supercharger Network

Superchargers are Tesla's very fast charging stations. They allow Tesla cars to charge quickly for long trips.

Destination Chargers

Tesla also has "Destination Chargers." These are slower than Superchargers and are found in places where cars park for several hours, like hotels or restaurants. Property owners set up these chargers and decide the price.

Car Insurance Services

Tesla has offered its own car insurance since 2017. They say they understand their cars and repair costs better than other insurance companies. This allows them to offer unique pricing. In some states, the cost of insurance can change each month based on how safely you drive.

As of January 2023, Tesla offers insurance in several U.S. states. They also offer insurance for non-Tesla cars owned by Tesla owners.

Tesla's Energy Products

Tesla Energy is a part of Tesla that develops and installs solar energy systems and battery storage products. These are for homes, businesses, and large industrial uses. This part of the company was created when Tesla bought SolarCity in 2016.

Tesla Energy products include solar panels, the Tesla Solar Roof (solar shingles), and the Tesla Solar Inverter. Their storage products are the Tesla Powerwall (for homes) and the Tesla Megapack (a large-scale energy storage system).

For large customers, Tesla Energy has an online system that helps manage and trade power. For home users, they have a "virtual power company" in Texas called Tesla Electric. This system uses Powerwall devices to sell power back to the grid when prices are high, helping customers earn money.

How Tesla Does Business

When Tesla started in 2003, electric cars were very expensive. Elon Musk said Tesla's plan was to first make expensive, limited-production sports cars. This would help them lower the cost of batteries over time. Then, they could offer cheaper cars that many people could buy. The Roadster was expensive and limited. The Model S and Model X were still luxury cars but more affordable. The Model 3 and Model Y are even more affordable and sell in much larger numbers.

Unlike other car companies, Tesla sells its cars directly to customers through its website and company-owned stores. They do not use independent dealerships. Some places, especially in the United States, have laws against car makers selling directly. In these areas, Tesla has "galleries" where people can learn about the cars but not buy them. Tesla has nearly 400 stores and galleries in over 35 countries. These are often in shopping areas, not near other car dealerships.

Tesla builds many of its own parts, like batteries, motors, and software. This is called "vertical integration" and is unusual in the car industry. Most car companies buy 80% of their parts from other suppliers.

Tesla generally allows other companies to use its technology. They say they want to help speed up the world's move to sustainable energy.

In April 2024, Tesla made a deal with Tata Electronics to get computer chips. This helps Tesla grow in India. In May 2024, Tesla decided to use a more proven method for building car bodies instead of a new, very large casting technique. This change helps them focus on self-driving cars and adapt to market needs.

Tesla's Technology

Tesla builds many of its own parts, including batteries, motors, and software.

Batteries

As of 2023, Tesla uses four different types of battery cells: 18650, 2170, 4680, and prismatic (rectangular) cells.

Tesla buys these batteries from companies like CATL, LG Energy Solution, and Panasonic. Panasonic even makes some batteries inside Tesla's Gigafactory Nevada. Tesla is also building its own battery production facilities.

Tesla batteries are placed under the car's floor to save space inside. They have a special protection system to keep the battery safe from road debris or crashes.

18650 Batteries

Tesla was the first car maker to use cylindrical lithium-ion battery cells. For its first Roadster, it used 18650-type batteries (18 mm wide, 65 mm tall) that were already used in other electronics. Thousands of these small cells are bundled together in a battery pack. These older 18650 cells are still used in the Model S and X.

2170 Batteries

The next battery type was the 2170-type (21 mm wide, 70 mm tall). These are larger and better for electric cars, allowing more power per cell. The 2170 cells are used in the Model 3 and Y.

4680 Batteries

Tesla's newest cylindrical cell design is the 4680-type (46 mm wide, 80 mm tall), introduced in 2021. These batteries were developed by Tesla itself and are 5 times bigger than the 2170-type. This means fewer cells are needed per battery pack. The 4680 cells are used in the Model Y and Cybertruck built at Gigafactory Texas.

Prismatic Batteries

Tesla also uses prismatic (rectangular) cells in many entry-level Model 3 and Model Y cars. These are lithium iron phosphate battery (LFP) cells. They are less energy-dense but do not contain nickel or cobalt, making them cheaper to produce. Tesla buys these from CATL in China.

Battery Research

Tesla invests in research to improve lithium-ion battery technology. They have partnerships with universities and have bought companies that specialize in battery manufacturing. In 2023, Tesla started building a lithium refining plant in Texas. This plant will use a new process that avoids harmful chemicals.

Software Updates

Tesla uses over-the-air updates to send new features or fix problems in its cars. This is possible because the cars have powerful computers that work together. This system also allows Tesla to control which features customers can use. For example, some features like heated rear seats might be built into all cars but only turned on if a customer pays for them.

Electric Motors

Tesla makes two types of electric motors: an induction motor and an internal permanent magnet (IPM) motor.

The older design is an alternating current induction motor. These motors use changing magnetic fields to create movement. Induction motors are used in the rear of the Model S and Model X, and in the front of the Model 3 and Model Y. They were also in the first-generation Roadster.

Since 2017, Tesla has also built IPM motors. These motors use magnets inside the rotor. They are great for starting power. Tesla engineers also use the "reluctance" property of iron to help these motors work well at high speeds. IPM motors are used in the rear of the Model 3 and Model Y, and in newer versions of the Model S and X. They are also expected to be used in the Tesla Semi.

North American Charging Standard (NACS)

The North American Charging Standard (NACS) is Tesla's charging system for electric vehicles. Tesla has used it since 2012. In 2022, Tesla made it available for other car makers to use. Since then, almost every other car manufacturer has announced that their electric vehicles sold in North America will use the NACS charge port starting in 2025. Many charging station companies also plan to add NACS connectors.

"Autopilot" and "Full Self-Driving (Supervised)"