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Running Head: TESLA ANALYSIS1Tesla AnalysisStudent NameInstitutional Affiliation ProfessorCourseDate
TESLA ANALYSIS2Tesla AnalysisTesla Company was founded in 2003 by Martine Eberhard and Marc Tarpening. Thedevelopment of the company was motivated by its desire to develop an electric sports car.Among the people that offered the financial support was Elon Musk who was a co-founder.Eberhard was the Chief Executive Officer at the inception of the corporation and Tarpeningbecame the Chief Financial Officer. Musk chaired the company from 2004 and later became theCEO in 2007 after the ouster of the previous CEO. After the resigning, he became a significantshareholder in the corporation. The corporation developed the first electric automobile in 2008and has continued to improve on its innovations. Tarpening exited the company as the VicePresident in 2008 (Bessen, 2014). He was also in charge of the electronic engineering and thedevelopment of the electronic software. The corporation developed the Model S Sedan in 2012 that was heavily complementeddue to the incorporation of modern technology. It had a high-performance ability especiallybattery option that made it stand out in the market. The company later introduced the Model Xand the Crossover vehicle that was developed as a sports car. Most of the innovation has beenmade at the watch of the current CEO Elon Musk and despite the challenges that arise thecompany has made significant strides towards its growth and development. The company alsodeveloped branches that mainly dealt with solar energy as a show of their commitment to theutilization of renewable energy. The production of the cars is in Fremont and the Company’sfactory id in California. The primary mission of the company is on the continuous acceleration of the rate oftransmission and the attainment of renewable energy across the world. Its innovation has proved
TESLA ANALYSIS3to the world that the electric energy can be applied suitably to improve the quality of life for thepeople by application of the automobiles that are quicker and better. It is a corporation that iscurrently known due to its development and the innovation of new products across the worldmainly dependent on the application of the renewable energy such as the solar power and theelectric motors. The company believes that overreliance in fossil products will lead to thecontinuous degradation of the environment. The application of electric energy is crucial to themaintenance of a lean environment. The corporation has developed unique solutions for themaintenance of the environment. Some of the innovations are on the development of the solarroof, power pack and the power wall. They have led to the consistent improvement of the lives ofthe people across the globe. There are several challenges that the company has faced in thedevelopment to become a globally competitive institution. One of the major challenges is on thefinancial crisis that it faced in 2007 and 2008 and stalled its growth and development. Electric