Genetec - A baby step

Tesla just celebrated its 12th year as a public company. Here are the most important moments in its history.

Genetec A baby step
Publish date: Wed, 13 Jul 2022, 06:46 PM
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https://www.businessinsider.com/most-important-moments-tesla-history-2017-2

On June 29, Tesla celebrated its 12 year as a public company. 

Since its IPO in 2010, Elon Musk's electric-car company has contented with high highs and low lows. And through all the twists and turns, Tesla managed to put electric vehicles on the map and become the most valuable car company on the planet. 

Tesla's journey from fledgling startup to EV juggernaut hasn't always been smooth sailing. While the company has notched plenty of achievements, it's also experienced its fair share of setbacks. 

Here's a breakdown of the company's most defining moments since its founding. 

July 2003: Tesla Motors is founded by a group of Silicon Valley engineers.Martin Eberhard

Martin Eberhard, co-founder of former CEO of Tesla Motors, poses next to an electric motor.
Paul Sakuma/ AP Photo

While Elon Musk, Tesla's current CEO, has led Tesla for the majority of its existence, he wasn't always at the helm of the company. 

Tesla, named after the famous physicist Nikola Tesla, was incorporated in 2003 by two engineers, Martin Eberhard and Marc Tarpenning. Later co-founders included JB Straubel, Ian Wright, and Musk. 

Eberhard served as CEO until August 2007, and left the company shortly thereafter.

 

 

February 2004: Elon Musk invests.Elon Musk, the Chairman of the Board of Tesla Motors, a high performance electric car company, is photographed at the company's headquarters in San Carlos, California on November 28, 2006.

Musk in 2006.
Joanne Ho-Young Lee/MediaNews Group/The Mercury News via Getty Images

Musk led the company's Series A funding round in 2004, contributing $6.5 million and joining Tesla's board as chairman. 

 

August 2006: Musk reveals Tesla's Master Plan.SpaceX CEO Elon Musk unveils his plans to colonize Mars during the International Astronautical Congress in Guadalajara, Mexico, September 27, 2016. REUTERS/Stringer

Musk.
Thomson Reuters

In 2006, Musk published a blog post entitled "The Secret Tesla Motors Master Plan (just between you and me)" in which he laid out Tesla's long-term mission: to help transition the world away from fossil fuels and toward clean energy. 

"Some readers may not be aware of the fact that our long term plan is to build a wide range of models, including affordably priced family cars. This is because the overarching purpose of Tesla Motors (and the reason I am funding the company) is to help expedite the move from a mine-and-burn hydrocarbon economy towards a solar electric economy, which I believe to be the primary, but not exclusive, sustainable solution." 

 

November 2007: Ze'ev Drori named CEO.ze'ev drori

Ze'ev Drori.
Robert Galbraith/Reuters

Tesla announced Drori would take the helm at Tesla at the end of November. An Israeli engineer and tech veteran, Drori was tasked with bringing Tesla's first car, the Roadster, to market by the first quarter of 2008. 

 

 

February 2008: Tesla's first Roadster is delivered.Elon Musk Tesla Roadster 2008

The Tesla Roadster.
Tesla

Drori managed to bring the Roadster into production on time and the first vehicle was delivered to Musk, who was serving as the company's chairman at the time. 

To celebrate the occasion, Musk jumped in the Roadster and led four other prototype Roadsters packed with engineers down Highway 101 and University Avenue in Palo Alto, California. 

 

 

March 2008: The company begins regular production of the Roadster.Tesla Roadster

Tesla Roadster
Scott Olson/Getty Images

By mid-March, the company had met its goal of getting regular production of the Roadster up and running. 

At the time, Drori referred to the event as a "milestone for the company and a watershed for the new era of electric vehicles."

Tesla produced the Roadster, which priced at $109,000, until January 2012 and in total sold 2,450 of them.

 

October 2008: Musk assumes title of CEO.elon musk tesla face intense outside

REUTERS/Noah Berger

By October, Tesla was feeling pressure created by the financial crisis. 

"The global financial system has gone through the worst crisis since the Great Depression , and the effects are only beginning to wind their way through every facet of the economy. It's not an understatement to say that nearly every business will be impacted by what has unfolded in the past weeks, and this is true for Silicon Valley as well," Musk said at the time.

Musk announced he would be taking over the company and that there would be layoffs. He also pushed the launch date of the Model S sedan, Tesla's next vehicle, from 2010 to mid-2011. 

 

 

November 2008: Tesla secures $40 million in financing and avoids bankruptcy.Elon Musk

Elon Musk, CEO of Tesla Motors, listens as Governor Brian Sandoval of Nevada speaks during a press conference at the Nevada State Capitol, September 4, 2014 in Carson City, Nevada.
Max Whittaker/Getty Images

By November 2008, the company's financial situation had worsened and Tesla was on the brink of bankruptcy. 

To help restore Tesla's coffers and speed up Roadster production, the company's board of directors approved $40 million in convertible debt financing.

"Even then, we only narrowly survived...We actually closed the financing round on Christmas Eve 2008. It was the last hour of the last day that it was possible," Musk
said in 2015.

 

March 2009: Tesla unveils a prototype of its second car, the Model S sedan.Elon Musk Tesla Model S

Elon Musk and Tesla designer Franz von Holzhausen at the Tesla Model S media launch in Hawthorne.
Fred Prouser/Reuters

Tesla unveiled its second car, the Model S, in March 2009 in Hawthorne, California at the SpaceX headquarters.  

By May 12, 2009, Tesla had already surpassed 1,000 reservations for the Model S.   

 

May 2009: Mercedes-maker Daimler takes a 10% stake in Tesla for $50 million.Elon Musk Daimler

Elon Musk and Daimler Board Member Thomas Weber talk about the deal on Fox Business news.

YouTube/Every Elon Musk Video

The $40 million in financing helped get Tesla through its darkest hour, but the company needed more resources to further develop its battery technology. 

Tesla and Daimler had already been in partnership for about a year working on an electric Smartcar. But by May, Daimler made a long-term bet on Tesla by taking a 10 percent stake in the company. The two companies agreed to work together on developing battery and electric drive systems.

In June 2009, Tesla also received a $465 million loan from the Department of Energy, which it repaid by May 2013.

 

June 2010: Tesla goes public.tesla elon musk

CEO of Tesla Motors Elon Musk waves after ringing the opening bell at the NASDAQ market in celebration of his company's initial public offering in New York June 29, 2010.
REUTERS/Brendan McDermid

Tesla offered 13.3 million shares at $17 per share. The company raised $226.1 million. 

Shares closed at $23.89, valuing Tesla at $2.2 billion. 

 

October 2, 2011: Elon Musk reveals Model S beta.elon musk tesla

REUTERS/Stephen Lam

In late 2011, Tesla showed off a near-production version of the Model S to about 3,000 early reservation holders. 

Musk revealed that the vehicle would get 320 miles per charge and go from 0 to 60 mph in 4.5 seconds. 

"The oil companies said electric cars can't work, but the truth is, they don't want them to work. But here it is. They would say this car is the equivalent of a unicorn. Well, tonight you had the opportunity to ride a unicorn,"
Musk said at the event.

 

February 2012: Tesla reveals the Model X SUV.tesla model x detroit auto show naias 2013

Alex Davies / Business Insider

Just a few months later, Musk unveiled a prototype of the Model X, the company's first SUV. 

The vehicle's most novel feature was its falcon-wing doors. By February 2012, the company had amassed advance sales of more than $40 million. 

At the time of its reveal, Tesla aimed to have the Model X in production by 2014. However, it wouldn't actually enter production until the end of 2015.

 

June 2012: Tesla begins delivery of Model S.elon musk tesla

Tesla Chief Executive Office Elon Musk celebrates at his company's factory in Fremont, California, June 22, 2012, as the car company began delivering its Model S electric sedan.
ASSOCIATED PRESS

In a major milestone, Tesla started delivering the Model S to customers in June 2012.

 

September 2014: Tesla decides to expand out of California with a second factory in Nevada.tesla gigafactory

Tesla Motors

Tesla announced its plans to build its giant battery factory, dubbed the Gigafactory, in February 2014 and ultimately decided to built it in Sparks, Nevada. 

The original site was 1,000 acres, but in June 2015 the company purchased an additional 1,864 acres of adjacent land.

 

April 2015: Tesla reveals the Powerwall, a giant rechargeable battery for your home, and its Powerpack, a battery for commercial use.Tesla Powerwall

Tesla's newest product "Powerwall" is unveiled on stage in Hawthorne, Calif., Thursday, April 30, 2015. Tesla CEO Elon Musk is trying to steer his electric car company's battery technology into homes and businesses as part of an elaborate plan to reshape the power grid with millions of small power plants made of solar panels on roofs and batteries in garages.
AP Photo/Ringo H.W. Chiu

Tesla made a big push into energy when it unveiled the Powerpack and Powerwall at an event in Hawthorne, California in 2015.

Musk said that batteries were the "missing piece" of Tesla's business model and claimed that 160 million Powerpacks could power the United States.

The company followed up in a statement on its website declaring that "Tesla is not just an automotive company it's an energy innovation company."

 

September 2015: Model X deliveries begin.Tesla Model X

Tesla CEO Elon Musk speaks during an event to launch the new Tesla Model X Crossover SUV on September 29, 2015 in Fremont, California.
Justin Sullivan/Getty Images

Tesla had originally planned to launch its Model X SUV in late 2013 or early 2014, but production delays forced the company to push back deliveries by almost two years. 

The vehicle's highly-specialized features, like its signature doors made it complicated to manufacture on a mass scale.

 

October 14, 2015: Tesla launches Autopilot to customers.Tesla Autopilot


YouTube/Tesla

Tesla began rolling a software update that activated its new advance driver-assistance system, Autopilot. Since late 2014, Tesla had included the necessary radar, camera, and ultrasonic sensors to make Autopilot work. 

With Autopilot switched on, a Model S could automatically stay centered in its lane and brake and accelerate to keep up with traffic. These remain the basic functions of Autopilot. 

 

 

March 2016: Tesla unveils the Model 3, its first mass-market car.tesla model 3

Tesla

Musk unveiled the much-anticipated Model 3 on March 31, 2016. 

He announced that the car would get 215 miles or more per charge and go from 0-60 mph in less than six seconds. Tesla planed a starting price of $35,000, though that price point was never widely available. 

 

May 2016: A man is killed while using Tesla Autopilot in his Model S.tesla autopilot fatality

National Transportation Safety Board

The first fatal Autopilot accident occurred in May 2016, but word didn't get out about the incident until more than a month later. 

On June 30, government regulators revealed they were looking into a tie between the fatal accident and Tesla's Autopilot feature. Tesla issued a statement calling the incident a "tragic loss."

According to Tesla's statement, the Model S was driving down a divided highway when a tractor-trailer cut across the highway perpendicular to the vehicle. 

"Neither Autopilot nor the driver noticed the white side of the tractor-trailer against a brightly lit sky, so the brake was not applied. The high ride height of the trailer combined with its positioning across the road and the extremely rare circumstances of the impact caused the Model S to pass under the trailer, with the bottom of the trailer impacting the windshield of the Model S," Tesla said.

June 2016: Tesla announces plans to purchase Solar City for $2.6 billion.solarcity elon musk

AP

The company made a $2.6 billion bid to acquire SolarCity, a solar installation company run by Musk's cousin. 

Not surprisingly, the deal was controversial from the start, primarily because SolarCity was about $3 billion in debt and the deal was seen as a bailout. 

Further complicating the matter, Musk was also the chairman of the company.

 

July 2016: Elon Musk reveals Tesla Masterplan Part Deux.Elon-Musk-Risk

Reuters

In 2016, Musk revealed the second part of his company's "master plan," which outlined four key goals: 

1. Develop "stunning" solar roofs that seamlessly integrate with Tesla's battery storage.

2. Roll out more affordable vehicles "to address all major segments."

3. Advance its self-driving technology so that it is "ten times safer" than manual driving. 

4. Roll out a car-sharing program that enables Tesla owners to make money by renting out their autonomous car. 

Over the years, Musk has repeatedly touted Tesla's plans for self-driving vehicles that can earn their owners passive income. But this robotaxi vision is still a long way off. 

 

November 2016: Tesla buys a German engineering company to help it push further into automation.Tesla Model X factory


YouTube/iPhone-Fan

Musk made it clear in early 2016 that automation was the future for Tesla. 

During a shareholder meeting in June, Musk said that he saw a huge opportunity in "building the machine that makes the machine." 

So it wasn't all that surprising when Tesla announced it was buying Grohmann Engineering, a German firm that specializes in designing systems for manufacturing automation.

 

November 2016: Tesla officially gets into the solar business.Elon Musk, Chairman of SolarCity and CEO of Tesla Motors, speaks at SolarCityÕs Inside Energy Summit in Manhattan, New York October 2, 2015.     REUTERS/Rashid Umar Abbasi/File Photo - RTSKHHA

Elon Musk, Chairman of SolarCity and CEO of Tesla Motors, speaks at SolarCity's Inside Energy Summit in Midtown, New York.
Thomson Reuters

Tesla closed its deal with SolarCity in November 2016.

Some Tesla shareholders alleged that the deal amounted to a bailout that unfairly enriched Musk's family, sparking off a lengthy legal battle. Musk won the case in April. 

 

 

February 2017: Tesla rebrands.Elon Musk Tesla

AP

In 2017, the automaker dropped the "motors" from its name in a move meant to reflect the fact that Tesla no longer just sold cars. 

 

 

July 2017: Tesla launches the Model 3.Tesla Model 3

Tesla Model 3.
Tesla

Tesla launched the Model 3 in July 2017.  The first cars went to Musk and Tesla employees. 

Getting the Model 3 — a more affordable, mass-produced vehicle — to market was crucial for Tesla to grow its reach to become profitable. What ensued was months of "production hell," as Tesla ramped up production to thousands of cars per week. 

 

November 12017: Tesla unveils the Semi conceptTesla Semi

Tesla

At an event at Tesla's Hawthorne, California, facility, the automaker showed off its Semi truck concept. With a center-mounted seat, the Semi promised a range of 500 miles and a 400-mile range after 30 minutes of charging. Musk even claimed it would have self-driving capabilities.

The Semi has been delayed multiple times, but Tesla now says it will go into production in 2023. 

 

November 2017: Tesla unveils the Roadster concepttesla roadster

Tesla

At the Tesla Semi's unveiling, the company took the opportunity to tease another future product: the Roadster

Tesla claimed the $200,000 sports car would hit 60 mph in just 1.9 seconds. After delays, it's set to go into production in 2023. 

 

February 2018: Musk's Tesla Roadster goes to space.tesla roadster space

SpaceX via Getty Images

In February 2018, the rocket company SpaceX, another Musk venture, launched its founder's Tesla Roadster into orbit during a test launch of its Falcon Heavy rocket. A dummy dubbed "Starman," wearing a SpaceX spacesuit, was strapped into the driver's seat.  

The car is currently orbiting the Sun. 

 

 

August 2018: Musk tweets that he is "considering taking Tesla private at $420" a share.elon musk

AP Photo

He also said that he'd "secured" funding. The tweet would kick off an SEC investigation into Musk's tweeting habit. 

 

September 2018: The SEC charges Musk with making "false and misleading statements" about taking Tesla private.Elon Musk

Brendan Smialowski/AFP via Getty Images

The agency accused Musk of misleading the public, claiming that he knew he didn't have a deal to take Tesla private. Eventually, the two settled. 

Musk had to step down as the chairman of Tesla's board of directors. Both he and Tesla were fined $20 million. The agreement stipulated that, going forward, Tesla lawyers needed to approve any of Musk's tweets containing material information about the company. 

 

March 2019: Tesla unveils the Model Y, its fourth vehicle.Tesla Model Y

Tesla's Model Y.
Tesla Motors/Handout via Reuters

In March 2019, Tesla revealed its fourth vehicle to date. Tesla said the Model Y would be able to travel 300 miles on a charge and seat seven people. 

 

October 2019: Tesla starts production at its new Shanghai factory.Tesla Shanghai

A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai
Reuters

Tesla became the first western automaker to own a factory in China without a joint venture. 

The factory, located in Shanghai, would help Tesla better supply the world's largest car market with its most popular vehicle, the Model 3. 

 

November 2019: Tesla unveils the Cybertruck pickup.FILE PHOTO: Tesla CEO Elon Musk unveils the Cybertruck at the TeslaDesign Studio in Hawthorne, Calif. The cracked window glass occurred during a demonstration on the strength of the glass.Mandatory Credit: Robert Hanashiro-USA TODAY/File Photo

FILE PHOTO: News: Tesla Cybertruck
Reuters

Musk unveiled the Cybertruck at an event on November 21, 2019. Tesla said the radically designed truck would be able to tow 14,000 pounds and travel 500 miles on a single charge.

All did not go off without a hitch, though, as a demonstration meant to show the strength of the "armored" glass used in the truck left two huge cracks in it. 

The Cybertruck was supposed to be on sale already. Now Tesla says it'll hit streets in 2023. It's been beat to market by electric pickups from Ford, General Motors, and Rivian Automotive. 

 

March 2020: Tesla starts delivering the Model Y.Tesla Model Y crossover

Tesla Model Y/
Tesla

Tesla started delivering the Model Y SUV to customers just as the global pandemic hit the US. 

 

June 2020: The Tesla Model S becomes the first EV to get a 400-mile range rating by the EPAtesla model s

Tesla

The Tesla Model S Long Range Plus achieved an EPA-rated range of 402 miles, making it the first EV to do so. The company achieved this through cutting down on weight and maximizing regenerative braking.

The Model S has since been beat by the Air, a sedan from the California startup Lucid Motors. But the Model S is still one of the longest-range electric cars you can buy today. 

 

July 2020: Tesla says it's turned a profit for four quarters in a row for the first time.Elon Musk co-founded PayPal after his startup X.com merged with Peter Thiel's Confinity.

Elon Musk.
Alexi Rosenfeld / Contributor / getty

After burning through cash for years, Tesla hit its stride and started turning a consistent profit. The feat teed it up for being added to the S&P 500 index later that year. 

 

December 2020: Tesla builds 500,000 cars in a year.Tesla Model Y and Model 3 electric vehicles, which will be sent to the Port of Zeebrugge in Belgium

Tesla Model Y vehicles.
Visual China Group / Getty

Tesla delivered 499,550 vehicles in 2020, just shy of its goal of half a million units. 

 

February 2021: Tesla spends $1.5 billion on bitcoin.Bitcoin ATM

Bitcoin tumbled to well below $20,000 over the weekend, before rebounding somewhat on Monday.
Anadolu Agency/Getty Images

Amid a cryptocurrency gold rush, Tesla announced it had bought $1.5 billion worth of bitcoin in January of 2021. It said it planned to accept the currency as a payment for Tesla cars, but that didn't last long. 

The value of bitcoin has plummeted in recent months, meaning Tesla's crypto bet is likely under water

 

June 2021: Tesla starts delivering the Model S Plaid, its fastest car ever.Tesla Model S Plaid sedan

Tesla Model S Plaid.
Tesla

Tesla announced the Model S Plaid at an even in September 2020, and started shipping it to customers in June 2021

Tesla's most powerful and fastest vehicle ever, the Plaid has three motors that propel it to 60 mph in a claimed 1.99 seconds. It now costs $135,990

 

October 2021: Tesla becomes a $1 trillion company.Elon Musk in a dinner suit at the Met Gala 2022

Tesla's share price soared to new heights in 2021.
NDZ/Star Max / Contributor via Getty

Tesla's share price skyrocketed for the better part of 2020 and 2021 as the company proved its profitability and grew sales. 

In October 2021, as its share price crested $1,000, Tesla's market cap surged past $1 trillion. It joined powerhouses like Apple, Alphabet, Amazon, and Microsoft. 

 

December 2021: Tesla moves its headquarters to Texas.Tesla Giga Texas manufacturing facility during the "Cyber Rodeo" grand opening party on April 7, 2022 in Austin, Texas.

Tesla Giga Texas manufacturing facility during the "Cyber Rodeo" grand opening party on April 7, 2022 in Austin, Texas.
SUZANNE CORDEIRO/AFP via Getty Images

After announcing the move in October, Tesla officially moved its headquarters out of Silicon Valley to Austin, Texas in December. Musk also moved to Texas, where SpaceX's launch site is. 

 

March 2022: Tesla opens its third car factory near Berlin.A Model Y electric vehicle stands on a conveyor belt at the opening of the Tesla Gigafactory Berlin Brandenburg.

One of the first Tesla Model Y SUVs leaves the assembly line at Tesla's Berlin factory.
picture alliance / Contributor

After months of bureaucratic delays and environmental protests, Tesla kicked off production at its new factory near Berlin in March. Tesla is building Model Y SUVs there for the European market. 

 

April 2022: Tesla opens Austin, Texas, Gigafactory.CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party on April 7, 2022 in Austin, Texas.

CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party on April 7, 2022 in Austin, Texas.
SUZANNE CORDEIRO/AFP via Getty Images

Mere weeks after opening its third vehicle plant in Germany, Tesla opened a fourth, marking the occasion with a "Cyber Rodeo" party. The company makes the Model Y there. It also plans to eventually build the Cybertruck pickup at the sprawling facility. 

 

June 2022: Tesla moves to cut 10% of salaried staffA Tesla Model 3.

 

A Tesla Model 3.
David Zalubowski/AP

Amid a broader economic downturn, Musk outlined plans to cut 10% of Tesla's salaried staff in June.

 

Discussions
Be the first to like this. Showing 1 of 1 comments

calvintaneng

TESLA MOVING TO INDONESIA WILL BENEFIT TSH RESOURCES

NOW BULUGAN REGENCY TURNING INTO GREENTECH INDUSTRIAL PARK

https://www.cnbc.com/2022/06/20/jokowi-lays-out-his-pitch-for-why-elon-musk-should-invest-in-indonesia.html

2022-07-14 17:40

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