Tesla, founded in 2003, became the world’s most valuable automaker by market capitalization.
Tesla was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning. Elon Musk joined as an early major investor and became chairman, while the company developed its first vehicle, the Tesla Roadster. The Roadster entered production in 2008 and used lithium-ion battery cells in a high-performance electric sports car.
Tesla later expanded with the Model S, Model X, Model 3, and Model Y. The Model 3 and Model Y brought the company into much larger vehicle markets. Tesla also sells energy-storage products and solar-energy systems, although electric vehicles remain central to its identity.
Market capitalization compares the total value of a company’s publicly traded shares, not its production volume or annual sales. Tesla’s valuation has at times exceeded that of much larger traditional automakers, even when those rivals produced more vehicles.