Since Tesla was based in 2003 and its IPO in 2010, Elon Musk’s electric-car firm has contended with excessive highs and low lows. And all through Tesla’s historical past, the automaker managed to place electrical autos on the map and change into probably the most helpful automotive firm on the planet.
Working at Tesla
Tesla CEO Elon Musk has led the corporate to outperform conventional automakers over the previous couple of years.
However that does not imply the carmaker is proof against financial headwinds. Tesla has been by way of intervals of fast progress — and quite a few rounds of Tesla layoffs, with the newest in 2024 seeing over 10% of Tesla’s workforce laid off.
Musk has additionally been very crucial of work-from-home and beginning in the summertime of 2022, all however killed the Tesla WFH coverage, telling government workers that they wanted to return to the workplace or resign.
Musk formally moved Tesla headquarters from California to Austin, Texas in December 2021. Nevertheless, it nonetheless employs hundreds of employees in California. In February 2023, Musk stated the corporate was transferring into workplace house in Palo Alto that was beforehand occupied by Hewlett-Packard.
Tesla has six gigafactories within the US, Europe, and Asia, the place it builds batteries and electrical autos. Musk spoke at Tesla’s 2022 annual assembly about eager to 10 to 12 extra within the subsequent a number of years. Increasing the Tesla gigafactory community would enhance the corporate’s manufacturing capabilities.
TSLA Inventory
Tesla’s inventory value was primarily flat for a number of years after its 2010 IPO. However in 2013, Motor Development named the Mannequin S its Automobile of the Yr. At that time, Tesla’s share value took off. Should you purchased Tesla inventory proper after the IPO and held on, you would be taking a look at a 1,000%-plus return.
Tesla income was $96.8 billion in 2023, with $78.5 billion of that coming from gross sales of its EVs. The corporate additionally makes cash from its vitality enterprise and thru promoting regulatory credit to different automakers — a facet hustle that earned Tesla practically $1.8 billion in 2023.
Buyers have not too long ago been most involved about value cuts, an absence of recent autos, and Musk’s commitments at his different corporations.
The most recent Tesla earnings name in July 2024 revealed total income rose 2% to $25.5 billion, however working revenue fell 33% to $1.61 billion, $200 million under estimates.
Together with the remainder of the auto trade, Tesla’s enterprise has been hit by the slowdown in EV gross sales. Musk informed traders in January 2024 that the automaker was “between two main progress waves.”
Tesla merchandise
From least to most costly, the Tesla fashions are Mannequin 3, Mannequin Y, Mannequin S, and Mannequin X. The names of the fashions spell out the phrase “S3XY.” Go away it to Musk to sprinkle in some juvenile humor wherever doable.
The corporate additionally sells the Tesla Cybertruck, a futuristic pickup truck that it started delivering to prospects in 2023, and the Tesla Semi, an 18-wheeler that was launched in 2022 and is Tesla’s first industrial car.
The Mannequin 3 and Mannequin S are sedans, whereas the Mannequin Y and Mannequin X are SUVs. The autos fall in a value vary of $38,990 to $94,990. As a result of Tesla sells direct to customers, its costs have been identified to alter.
The entry-level Tesla Mannequin 3 price is one that usually fluctuates. The present beginning value is $38,990, with some Mannequin 3 variations eligible for a $7,500 federal tax credit score within the US.
Tesla’s Mannequin S, a luxurious household sedan, is the EV maker’s oldest car nonetheless in manufacturing. It prices practically $75,000 for probably the most fundamental model, and Tesla claims it is probably the most aerodynamic manufacturing automotive on Earth. Tesla delivered the primary Mannequin S to a buyer in June 2012.
For a purchaser evaluating Tesla Mannequin 3 vs. Mannequin S, the Mannequin 3 will probably be extra accessible to extra consumers due to its decrease price. For drivers trying to splurge, the Mannequin S delivers a high-end luxurious car with extra space and higher efficiency than the Mannequin 3.
The Mannequin X SUV is the most important and most costly car Tesla sells to on a regular basis drivers. At a beginning value of $79,990, it comes with 5 seats, however you possibly can pay further for a 3rd row with six- or seven-seat layouts.
The Mannequin X’s falcon-wing rear doorways swing up as an alternative of out, making it seem like some sort of spaceship. The all-wheel drive model of the Mode X is eligible for the $7,500 tax credit score within the US, however the dearer Plaid model shouldn’t be.
Tesla’s smaller SUV is the Mannequin Y, which is one in all Tesla’s cheaper choices alongside the Mannequin 3 sedan. It begins at $44,990 earlier than tax incentives, and not too long ago grew to become the best-selling car on this planet.
The Cybertruck is the latest addition to Tesla’s car lineup. The space-age pickup has a chrome steel physique and comes filled with futuristic options. It is also extraordinarily expensive, with the most affordable Cybertruck beginning at just below $100,000 — although Tesla has stated cheaper variations of the Cybertruck will probably be coming subsequent yr.
EV options
Some Tesla options are what you may count on from a contemporary electrical automotive, just like the app and keycard. Others replicate Musk’s distinctive humorousness and have added to Tesla’s cult following. Whereas Autopilot will get quite a lot of consideration, the automobiles come geared up with many extra, together with the “frunk,” “Canine mode,” and “Ludicrous Plus Mode.”
The carmaker introduced minimalist and distinctive inside design to the auto trade. Tesla interiors had been among the many first to chop the instrument cluster and introduce a steering yoke.
Tesla’s Full Self-Driving software program beta was first launched in 2020 and is now accessible to anybody who pays for the software program upon request. Tesla FSD shouldn’t be self-driving, regardless of the identify. The tech permits Teslas to robotically change lanes, enter and exit highways, acknowledge cease indicators and site visitors lights, and park.
Charging and batteries
Superchargers are the quickest option to cost a Tesla and the closest you will get to fuel station-like refueling instances. The corporate says one of the best Superchargers can add 162-200 miles of vary in quarter-hour.
The corporate presents a Tesla Supercharger map the place customers can search for places of chargers. There are greater than 50,000 worldwide, up from 10,000 in 2018.
The place doable, Tesla Supercharger price is charged per kilowatt hour (kWh) used. The place Tesla is unable to invoice per kilowatt hour, they’ll as an alternative cost a per-minute charge. To entry the Tesla community as a non-Tesla proprietor, you have to the Tesla smartphone app.
A Tesla vacation spot charger lets customers cost their automobiles at places like resorts, malls, and eating places. Not like Supercharging, vacation spot charging is designed extra for in a single day stopovers or to remain topped up whereas operating errands, versus quick breaks in a highway journey.
There are methods to cost your Tesla with out stopping to cost — some are extra life like than others. One YouTuber’s experiment concerned a Tesla with a generator, powering his Mannequin S throughout an 1,800-mile highway journey by way of the Midwest with out stopping to plug in. (He did need to cease for fuel for his generator, satirically.)
How lengthy does it take to cost a Tesla at house? A full cost will be achieved in 8 to 10 hours for those who set up a 240-volt outlet, like the sort used to energy garments dryers. You too can cost with a $230 Tesla cellular connector plugged into any normal outlet and get from three to 30 miles of vary per hour charged.
Tesla ensures its batteries for eight years or 100,000-150,000 miles, whichever comes first. The price of Tesla battery alternative could be steep. In 2019, Elon Musk put the associated fee between $5,000 and $10,000.
EV competitor comparisons
Tesla is not the EV sport on the town, with new rivals popping up on a regular basis. However are any value contemplating over a Tesla?
One up-and-coming electrical automotive model gunning for a few of Tesla’s success is Polestar. The Tesla Mannequin 3 competes instantly with the Polestar 2. Placing Tesla vs Polestar face to face reveals that the manufacturers have so much in widespread, together with on-line ordering, easy interiors, and an emphasis on efficiency. The Polestar 2 has a extra user-friendly touchscreen setup and is dearer.
Rivian, some of the profitable electrical car startups within the US, is one other Tesla competitor. The Tesla Mannequin X and Cybertruck pickup compete with Rivian’s R1T pickup and R1S SUV. When evaluating Tesla vs. Rivian, Rivian, whose model is all about getting outdoor, is catering to consumers who desire a bigger car and higher off-road functionality. Tesla’s automobiles are extra about on-road efficiency, they usually ship that in spades, notably for those who select a sportier mannequin, just like the Tesla Mannequin S Plaid.
Lucid is a promising EV startup based mostly in California. Lucid’s CEO, Peter Rawlinson, was beforehand a prime engineer at Tesla. Lucid’s entry-level Air Pure begins at $75,225 earlier than taxes and costs. The mannequin’s pricing goes all the way in which as much as $249,000 for the Air Sapphire, a super-powerful pace monster.
In a Tesla vs. Lucid matchup, Tesla’s closest competitor could be its Mannequin S sedan, which additionally delivers tons of vary, awe-inspiring quickness, and many superior know-how.
Future merchandise
EV followers are patiently ready on a number of future Tesla fashions, together with a brand new roadster, an inexpensive EV, and a self-driving taxi. Many of those autos have already confronted lengthy delays.
Tesla is predicted to unveil its long-awaited robotaxi in October. Musk has been promising that Tesla will launch a self-driving car since 2019, when he stated the corporate would have 1 million robotaxis on the highway by the next yr.
The billionaire has stated Tesla’s driverless taxi enterprise will perform like “a mix of Airbnb and Uber,” and tied the automaker’s future to its skill to crack self-driving autos.
Musk has additionally stated that Tesla is engaged on a extra inexpensive EV, after hinting for years that the corporate is planning to launch a $25,000 electrical car. In Tesla’s most up-to-date earnings name, Musk stated the corporate would unveil a extra inexpensive mannequin within the first half of 2025, however did not present any extra particulars.
The unique Tesla Roadster was the corporate’s first car and was a limited-production sports activities automotive. The brand new Tesla Roadster was first introduced in 2017, however its launch has been delayed, with Musk not too long ago saying manufacturing will start in 2025. The brand new Roadster base mannequin would price $200,000, Tesla stated when it introduced the automotive’s return.
Whether or not the corporate makes a Tesla tiny home has been unclear. The corporate doesn’t provide housing of any variety in its product lineup. Nevertheless, Elon Musk has spoken about proudly owning a tiny home from the corporate Boxabl.
Musk does, nevertheless, have Tesla robots within the works. In 2021, Elon Musk introduced a Tesla humanoid robotic named Optimus. It’s designed to assist cut back the labor scarcity, in line with Musk, and preserve employees safer. Optimus will use Tesla’s Autopilot software program linked to eight cameras feeding into its neural community.
Tesla drivers
A examine that analyzed drivers of a number of Tesla fashions discovered that the standard Tesla proprietor is a white man with a family earnings over $130,000 a yr. Tesla house owners are additionally extra more likely to personal a house.
In 2023, greater than a dozen Tesla house owners informed Insider one of the best and worst components of proudly owning their automobiles. They stated price, efficiency, know-how, the Supercharger community, and residential charging had been among the many greatest Tesla options. Cons of Tesla possession, in line with this group of drivers, embrace a stiff journey, construct high quality, affiliation with Elon Musk, and customer support.
Consultants have stated that Tesla customer support complaints might tarnish the model’s status. Electrical car house owners who spoke to Enterprise Insider have had blended evaluations, commenting that their experiences ranged from irritating to fast and simple.
Tesla automotive insurance coverage prices greater than different automobiles, partly attributable to costly repairs. Tesla launched its personal cheaper insurance coverage product in 2019 to squeeze different insurance coverage suppliers. Nevertheless, it is solely accessible in sure states.
A Tesla tax credit score is out there for some variants of the Mannequin 3 and X autos, plus Tesla’s Mannequin Y, alongside different fashions from Chevrolet, Ford, Rivian, and extra. The tax credit score for EVs, which will be as much as $7,500, was launched to encourage electrical automotive manufacturing and adoption within the US.
Tesla has gained some reward for pushing electrical and self-driving autos to new heights, however its automobiles have additionally been concerned in lots of of deaths. In keeping with the Tesla Deaths database, which cites information articles in addition to studies from the Nationwide Freeway Visitors Security Administration (NHTSA), some 555 folks have died in incidents involving a Tesla.
In December 2023, Tesla recalled over 2 million autos after regulators discovered that the corporate’s Autopilot driving help tech did not do sufficient to stop misuse. In a report launched in April 2024, the NHTSA stated it was investigating 956 Tesla crashes between January 2018 and August 2023 the place Autopilot was concerned, 29 of which resulted in fatalities.
