Tesla Motors was founded in July 2003 by engineers Martin Eberhard and Marc Tarpenning. The company’s name is a tribute to Serbian inventor and electrical engineer Nikola Tesla. Elon Musk was responsible for 98% of the initial funding, and served as chairman of the board. He appointed Martin Eberhard to be the first CEO.[21][22] In its 2004 [23] Series A funding, Tesla Motors was joined by Elon Musk, J. B. Straubel and Ian Wright, all of whom are retroactively allowed to call themselves co-founders of the company. Musk, who formerly served as chairman and is the current chief executive officer, said that he envisioned Tesla Motors as a technology company and independent automaker, aimed at eventually offering electric cars at prices affordable to the average consumer. In February 2017, Tesla Motors shortened its name to Tesla. 70
After 11 years in the market, Tesla ranked as the world’s best selling plug-in passenger car manufacturer in 2019, both as a brand and by automotive group, with a market share of 17% of the plug-in segment sales.[24] Tesla global vehicle sales increased 50% from 245,240 units in 2018[25] to 367,849 units in 2019.[26]
Tesla has never had a profitable year;[however, it has had several individually profitable quarters, most recently the quarters ending September 2018, December 2018, September 2019, and December 2019.
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