I Nearly Two Decades Of Tesla

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Nearly Two Decades Of Tesla

As July marks Tesla’s 19th anniversary, here’s a look at some of the most important milestones for the world’s leading electric vehicle (EV) manufacturer.

2018 2019

2017

2016

2015

2014

2010

2009

In 2018, Musk tweeted that he was considering taking the company private for $420 per share, which the board didn’t agree to. The U.S. SEC sued Musk for his misleading tweet and fined him and the company $20 million to repay harmed investors. The settlement saw Musk step down as Tesla’s chairman. In July 2018, Musk signed an agreement with Shanghai to build its third gigafactory, and the first in China. In 2019, Tesla introduced its Cybertruck, the Model Y, a mid-size SUV with seating for up to seven.

Tesla Motors changed its name to Tesla Inc. in 2017. Production began on the Model 3, a low-priced, highvolume electric vehicle.

In 2016, Tesla acquired Germany’s Grohmann Engineering and SolarCity.

In 2015, Tesla expanded its product line with the Model X, a sport utility vehicle.

Tesla raised $2 billion from bonds to build its first gigafactory.

Tesla went public in 2010, raising $226 million in its IPO. In June 2010, Tesla and Toyota announced that they would work together on EV development and that Toyota would purchase $50 million of Tesla’s common stock. Tesla received $465 million in low-interest loans from the US Department of Energy.

Tesla relocated its headquarters to Palo Alto, California, in 2009. In May that year, Daimler AG, maker of Mercedes-Benz, acquired a 10% stake in Tesla for a reported $50 million.

In July 2020, Tesla became the world’s most valuable car company with a market cap of $208 billion, overtaking Toyota.

Tesla moved its headquarters from California to Texas and invested $1.5 billion in bitcoin in 2021. In October, its market cap hit over $1 trillion for the first time. Musk’s net worth rose to over $300 billion, making him the richest person in the world at the time.

In April, Musk sold nearly 10 million shares in Tesla, worth more than $8 billion. Tesla’s market cap dropped to $674 billion as of June 17. 2020

2021

2022

2008

Tesla unveiled the Roadster in 2008. In October, Musk became the fourth CEO of the company. 2007

Eberhard was replaced as CEO in summer 2007 and left the company a few months later, which led to several lawsuits and eventually a settlement. He was followed by interim CEO Michael Marks and then CEO Ze’ev Drori in the same year. 2006

In July 2006, Tesla unveiled the prototype of its first electric sports car, the Roadster. 2004

In April 2004, entrepreneur Elon Musk, who had previously met the founders at an event called Mars Society, invested $6.35 million into the company in a Series A funding round and became chairman of the board. 2003

Tesla was founded in San Carlos, California, by sports car enthusiasts Martin Eberhard and Marc Tarpenning in July 2003—the same year that General Motors began recalling and destroying their EVs.