Essay on The Rise of Tesla Motors

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The car market has been ran by companies such as Volkswagen, Toyota, Ford, BMW, and many other companies, but one of the newer, up and coming companies in this market is Tesla Motors Inc. Tesla has been around for a little over 10 years, and have come quite a long way from where they began. Tesla now sells luxury electric vehicles different than any other electric vehicles today, and they have big plans for expansion in the future. Tesla may not be one of the biggest car companies today, but one day they will be considered alongside companies such as Toyota and Ford. Tesla is one of the newest car companies around, but they have had a long road to where they are today. Martin Eberhard and Marc Tarpenning founded Tesla Motors in July 2003…show more content…
The car market has been ran by companies such as Volkswagen, Toyota, Ford, BMW, and many other companies, but one of the newer, up and coming companies in this market is Tesla Motors Inc. Tesla has been around for a little over 10 years, and have come quite a long way from where they began. Tesla now sells luxury electric vehicles different than any other electric vehicles today, and they have big plans for expansion in the future. Tesla may not be one of the biggest car companies today, but one day they will be considered alongside companies such as Toyota and Ford. Tesla is one of the newest car companies around, but they have had a long road to where they are today. Martin Eberhard and Marc Tarpenning founded Tesla Motors in July 2003 in California, and in April 2004 Billionaire PayPal founder Elon Musk invested in Tesla and joined the board. Musk became the CEO of Tesla in 2008, and still holds that position today. In March 2008 Tesla began production their first car, the $109,000 Roadster. Tesla eventually sold 2,150 Roadsters. In June 2010, Tesla shares begin trading on the Nasdaq Stock Exchange, and they gain 40.5 percent from their Initial public offering (IPO) price of $17 to close at $23.89. The IPO raises $226.1 million. Even starting out strong on the stock exchange, in January 2011 Tesla, reporting full-year financial results for the first time, says it lost $154.3 million in 2010. In 2012, Tesla started selling their most successful car to this day, which was

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