Have you ever wondered about the fully operated electric vehicle?. Tesla has been changing the way of energy consumption by developing cars that meet the demands of the customers. The company has launched four models that have gained a positive response among automobile enthusiasts. The company was named after the famous electrical engineer Nikola Tesla. It has its specialization in producing electric vehicles along with several solar projects. The company was founded by two engineers namely Martin Eberhard and Marc Tarpenning in 2003. It has also hired three experts Ian Wright, Elon Musk, and J. B. Straubel also appointed as the co-founders of the company. Elon Musk serves as a current CEO and chairman for the electric vehicle manufacturing company.
The company gained Its popularity in the last three years soon after the launch of its electric vehicle. Elon has revealed his mission to provide affordable electric vehicles to the individual with a few years. To meet that demands the company has its production and manufacturing plants in various regions of different parts of the countries. Currently, the company has five manufacturing plants operating on different continents. Globalization has provided more freedom to operate from different places. Manufacturing plants of the company are located in Fremont, California; Giga Nevada, Giga New York, and Giga Shanghai
The company has already launched four of its electric car model with advanced facilities. The four models from Tesla are Model S, Model 3, Model X, and Model Y. These cars have performed well in the real environmental conditions thus increasing the face value of the company. After 11 years of starting the company has already achieved many milestones. Tesla ranked as the world’s best-selling plug-in and battery electric passenger car manufacturer in 2019. These self-driving cars have become a huge hit among automobile lovers who wish to prefer a hassle-free driving experience. Advancement in computer technologies has paved the way for endless innovations.
The company holds a market share of 17% of the plug-in segment and 23% of the battery-electric segment. Due to the increase in the popularity in the commercial car segment the company has started to domine the automobile market in North America and Europe. Tesla’s vehicle sales around the globe have increased by 50% from 245,240 units in 2018 to 367,849 units in 2019. This is one of the most remarkable achievements and gives a positive momentum. Its also been widely spoken that the company has achieved a target of million sales in the year 2020 within a short span of time. It’s expected that the sales might get an increase to about 1.5 million by the end of this year.
Based on the analysis the company has produced a profit for the four consecutive quarters in the row starting from July 2019 to June 2020. The economic experts have already proposed the idea to included the stock in the sharemarket to S&P 500. It’s been leaked that the development has halted the manufacturing plants for more than the last three months due to the deadly virus with a concern over the health and hygiene of the employees. Its also said that more than 25% of the assembly of the car is done by robots so there won’t be any lag in the manufacturing of the electronic vehicle. Tesla has invested more than a million dollars in inventing heavy load electric trucks and several other similar products which use clean renewable energy as a fuel.