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Company Analysis: Tesla, Inc. 1University of Maryland University CollegeCMST 301: Digital Media and SocietyProject 1: Company AnalysisTesla, Inc.Professor: Vera JonesStudent: Daryl C. JoseDue by: 04/01/2018
Company Analysis: Tesla, Inc. 2Section 1: Company InformationPetrol, diesel, or electric? Which power source is the most efficient of the three? Truth of the matter is, Tesla, Incorporation is leading the innovation of power source and power utilization in 2018. Recently, Tesla, Inc. has provided the consumers electric cars, solar panels, and clean energy storages that do not only provide clean source or energy, but also reliability. First, let us take a brief look into what made Tesla, Inc. a giant energy provider and innovator of our modern era. Do you know that Tesla, Inc. is formerly known as Tesla Motors that was founded back 2003? Yes, that is correct. Within 15 years in the making, Tesla, Inc. has enabled the world to seethe capabilities of electric source of power, whether through a 9 second super car or the wide solar panels installed in most houses. As a matter of fact, Tesla Motors was formed originally to develop an electric sports car, of which they have absolutely accomplished. When people talk about Tesla, we can’t avoid not to hear the name Elon Musk. Well, that is because he is currently the CEO of Tesla, Inc. Despite of the fact, he did not instantly obtained that title to begin with. In accordance with Gregersen & Schreiber (2018), “Tesla Motorswas founded in 2003 by American entrepreneurs Martin Eberhard and Marc Tarpenning and was named after Serbian American inventor Nikola Tesla.” Martin Eberhard was Tesla’s CEO, while Marc Tarpenning was Tesla’s CFO. So where did Elon Musk played into part? Funding for the company was obtained from a variety of sources, most
Company Analysis: Tesla, Inc. 3notably PayPal cofounder Elon Musk, who contributed more than $30 million to the new ventureand served as chairman of the company, beginning in 2004 (Gregersen & Schreiber, 2018). Believe it or not, Tesla’s goal a decade ago remained the same as it is today. Their main goal is toaccelerate the advent of sustainable transport by bringing compelling mass market electric cars tomarket as soon as possible (Musk, 2013). With bigger corporations such as Toyota, Honda, Nissan, and other well-known vehicle production companies, Tesla had to come up with a masterstrategy to get their name out in the public market. In accordance with Musk (2013). “our first product was going to be expensive no matter what it looked like, so we decided to build a sports car, as that seemed like it had the best chance of being competitive with its gasoline alternatives.”Besides from lightning speed production vehicles, what other services do Tesla, Inc. offers the buyers? As mentioned, Tesla does not only build electric cars, but also bargains infinitely scalable energy generation and storage products to the market. This includes Solar Roof, Powerwall, and Powerpack. Tesla aims to expedite stoppage of the world’s reliance on fossil fuels and moves towards a zero-emission future.