Tesla created the Roadster, the first commercially available electric sports car, which entered production in 2008.
The Tesla Roadster was based on the Lotus Elise platform and used lithium-ion battery cells. Tesla delivered the first production Roadster in February 2008. Its performance demonstrated that an electric vehicle could offer sports-car acceleration and meaningful driving range, challenging the idea that electric cars had to be small or slow.
Tesla was incorporated in 2003 by Martin Eberhard and Marc Tarpenning. Elon Musk joined as an early investor and became chairman, while later leadership and engineering work made him the company’s most publicly associated executive. Tesla later expanded with the Model S, Model X, Model 3, and Model Y.
The Roadster was not the first electric vehicle in history, and Tesla did not invent the electric motor. Its significance was commercial and technological: it helped establish a modern premium electric-car market. Tesla’s market capitalization has often reflected expectations about vehicle growth, batteries, software, charging, and autonomous-driving technology.