Tesla was founded in 2003 and became a major market-cap rival of established automakers.
Tesla was established in July 2003 in California by Martin Eberhard and Marc Tarpenning. Elon Musk joined as an early investor and became chairman; the company’s founding history also includes JB Straubel, Ian Wright, and other early contributors. Musk became chief executive in 2008.
The Roadster, launched in 2008, used lithium-ion battery cells and was based on a modified Lotus Elise. Tesla later expanded with the Model S, Model X, Model 3, and Model Y. The Model 3 and Model Y helped move the company toward larger-scale sales.
Tesla is primarily an electric-vehicle and energy company, not merely a battery manufacturer. Its activities also include charging equipment, stationary energy storage, solar products, and software. Its market capitalization has often reflected investor expectations about future growth as well as current vehicle deliveries.