Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning before Elon Musk joined its board.
Eberhard and Tarpenning created the company to accelerate the adoption of electric vehicles. Elon Musk became an early major investor, joined Tesla’s board in 2004, and later became its chief executive. JB Straubel and Ian Wright are also recognized as early co-founders or key founding participants.
Tesla’s first production vehicle was the Roadster, which entered production in 2008 and used lithium-ion battery cells. The Model S, introduced later, helped establish Tesla as a major premium electric-car manufacturer.
Tesla’s market capitalization has often moved sharply because investors value both its vehicle business and its potential in batteries, charging, software, and autonomous-driving technology. The founding story is frequently simplified by crediting only Musk, but the company predates his involvement.