Tesla was incorporated in 2003, before becoming one of the world’s most valuable automakers by market capitalization.
Martin Eberhard and Marc Tarpenning incorporated Tesla Motors on July 1, 2003. The company was created to develop electric vehicles at a time when battery-powered cars were still a niche technology. Ian Wright, Elon Musk, and J. B. Straubel joined the company’s early development and financing efforts at different stages.
A frequent source of confusion is Tesla’s first vehicle. The Roadster entered production in 2008, five years after the company was incorporated. The Roadster was based on the Lotus Elise and used lithium-ion battery cells, helping demonstrate that an electric sports car could achieve substantial range.
Tesla changed its name from Tesla Motors to Tesla, Inc. in 2017. Its later business expanded beyond cars to batteries, solar products, charging infrastructure, and related energy services.