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The Journey of Tesla: From Startup to Global Electric Vehicle Giant
They're the most valuable car company in the world, a tech giant, and an iconic brand. But how did Tesla become so big?
Words by: Andrew Woodhouse
Published on 26 May 2023 | 0 min read
In just under 20 years, Tesla has transformed from a small startup to the most valuable car company in the world.
In his latest YouTube video, Rory Reid delves into Tesla's rise to prominence, from its humble beginnings to its modern-day dominance and global fan base.
In his latest YouTube video, Rory Reid delves into Tesla's rise to prominence, from its humble beginnings to its modern-day dominance and global fan base.
Early Beginnings and Co-Founders
Tesla’s story begins with Martin Eberhard and Marc Tarpenning, friends and colleagues who went into business together. Their first product, the Rocket eBook reader, didn’t take off as hoped – but the two had a shared vision for creating a greener way to travel.
Spotting a gap in the emerging market, they founded Tesla Motors Incorporated in 2003, and knuckled down with a focus on developing electric vehicles. The project caught the attention of Elon Musk, who invested heavily in the company and eventually became its largest shareholder and chairman of the board. These three, alongside Ian Wright and JB Straubel (Tesla’s Chief Technical Officer), are considered Tesla’s official co-founders. Tesla's first major breakthrough came with the launch of the Roadster in 2006. Arguably, it was this electric sports car that demonstrated electric cars could be desirable and high-performing vehicles. While this was happening, however, internal conflicts led to Eberhard's departure from the company. Tarpenning's voluntary exit followed in 2008, before Musk took over as CEO and implemented cost-cutting measures to keep the company afloat during challenging times.
Spotting a gap in the emerging market, they founded Tesla Motors Incorporated in 2003, and knuckled down with a focus on developing electric vehicles. The project caught the attention of Elon Musk, who invested heavily in the company and eventually became its largest shareholder and chairman of the board. These three, alongside Ian Wright and JB Straubel (Tesla’s Chief Technical Officer), are considered Tesla’s official co-founders. Tesla's first major breakthrough came with the launch of the Roadster in 2006. Arguably, it was this electric sports car that demonstrated electric cars could be desirable and high-performing vehicles. While this was happening, however, internal conflicts led to Eberhard's departure from the company. Tarpenning's voluntary exit followed in 2008, before Musk took over as CEO and implemented cost-cutting measures to keep the company afloat during challenging times.
Tesla Model S and the Supercharger Network
In 2012, the Tesla Model S was launched and became a sensation. This was the moment Tesla became a household name. The Model S was unlike any other electric car on the market. It was sleek, fast, and had a range of over 200 miles.
It was also during this time that Tesla went public, raising significant capital through its initial public offering (IPO), which allowed Tesla to attract more investors and expand its operations. In 2013, Tesla announced its Supercharger network, a system of fast charging stations that allowed Model S owners to travel long distances with ease. The Supercharger network was a game-changer, addressing one of the biggest concerns people had with electric cars: the lack of infrastructure for long-distance travel. With the Supercharger network, Tesla demonstrated that electric vehicles could be practical for road trips and long journeys. Earlier this year, they opened the network up to other brands.
It was also during this time that Tesla went public, raising significant capital through its initial public offering (IPO), which allowed Tesla to attract more investors and expand its operations. In 2013, Tesla announced its Supercharger network, a system of fast charging stations that allowed Model S owners to travel long distances with ease. The Supercharger network was a game-changer, addressing one of the biggest concerns people had with electric cars: the lack of infrastructure for long-distance travel. With the Supercharger network, Tesla demonstrated that electric vehicles could be practical for road trips and long journeys. Earlier this year, they opened the network up to other brands.
Model X, Model 3, and Model Y
Over the next few years, Tesla continued to innovate and expand its offering. The Model X, an all-electric SUV, was launched in 2015, while the more affordable Model 3Model Y, a compact SUV that quickly became one of the best-selling cars worldwide.
Tesla's success can be attributed in large part to its devoted fan base – a community of enthusiasts that passionately support the brand and its products. But it’s not all been plain sailing, and Tesla has faced multiple challenges including delays in production targets, quality control issues, and unfulfilled promises regarding future products like the Cybertruck and Roadster. All that said, Tesla's journey from a startup to a global electric giant has been nothing short of extraordinary. It isn’t hyperbolic to say that Tesla has transformed the automotive industry and, as the world moves toward cleaner transportation options, Tesla continues to push boundaries and shape the future of electric mobility. What are your thoughts on Tesla? Is their success warranted? Do the traditional brands still rule your heart, or do you have an eye on the newcomers to the market? Explore the full range of new and upcoming electric car release here.
Tesla's success can be attributed in large part to its devoted fan base – a community of enthusiasts that passionately support the brand and its products. But it’s not all been plain sailing, and Tesla has faced multiple challenges including delays in production targets, quality control issues, and unfulfilled promises regarding future products like the Cybertruck and Roadster. All that said, Tesla's journey from a startup to a global electric giant has been nothing short of extraordinary. It isn’t hyperbolic to say that Tesla has transformed the automotive industry and, as the world moves toward cleaner transportation options, Tesla continues to push boundaries and shape the future of electric mobility. What are your thoughts on Tesla? Is their success warranted? Do the traditional brands still rule your heart, or do you have an eye on the newcomers to the market? Explore the full range of new and upcoming electric car release here.