Tesla was founded in 2003 and is associated with Elon Musk as its longtime chief executive.
Tesla was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning. Elon Musk joined as an early major investor and became chairman; he later became chief executive. The company first developed the Roadster, an electric sports car based on the Lotus Elise, before expanding into higher-volume vehicles.
The Model S sedan, Model X SUV, Model 3 sedan, and Model Y crossover helped Tesla reach a much broader customer base. Tesla also produces battery storage systems, charging equipment, and solar-energy products. Its Supercharger network has been an important part of its electric-vehicle ecosystem.
Tesla’s market capitalization has often exceeded that of much older automakers, despite producing fewer vehicles than the largest traditional manufacturers. That comparison reflects investors’ expectations about future growth, software, batteries, autonomy, and energy products, not just current vehicle deliveries. Tesla is named after inventor Nikola Tesla.