Tesla became the first automaker to reach a $1 trillion market value in 2020.
Tesla was incorporated in 2003 by Martin Eberhard and Marc Tarpenning, with Elon Musk joining soon afterward as a major early investor and becoming chairman. The company’s first production vehicle was the Roadster, an electric sports car introduced in 2008.
Tesla’s Model S, Model 3, Model X, and Model Y helped move the company from a niche electric-car maker toward mass-market production. The Model 3, launched in 2017, was especially important because it targeted a lower price than Tesla’s earlier vehicles.
Tesla’s market capitalization passed $1 trillion in October 2021, not 2020; the year is a common mix-up with other milestones. The company became the first automaker to reach that valuation, although market capitalization changes with the share price and is not the same as annual sales or total assets.