Tesla, Inc. or formerly known as Tesla Motors, is an American automobile maker based in Palo Alto, California. The company was founded in 2003 and specializes in electric cars, lithium-ion battery energy storage and residential solar panels. Elon Musk, Tesla’s CEO announced on June 12, 2014 that Tesla Motors or TSLA will not initiate patent lawsuits against anyone who uses their technology in good faith. This of course, has shocked the business world. With that in mind, here are a few facts you never knew about the company.
1The History of the Name
– Tesla was named after the physicist Nikola Tesla. Tesla Motors then has risen from a simple concept to a motoring giant in less than 15 years.
2Tesla motors wasn’t the first Tesla to share patents.
– The inventor, Nikola Tesla, which the company was named after sold his AC patents for less than 2 percent of their original value to help the buyer compete with rival Edison.
3Tesla Motors is the second oldest
– And by second oldest, we mean the second oldest publicly listed American Automobile maker, right behind Ford. GM went bankrupt and now it’s stock is only 4 months younger than TSLA. Chrysler was not publicly listed when it went bankrupt as well. Chrysler however, is still a private company.
4Elon Musk does not spend all of his time at Tesla
– Tesla’s CEO, Elon Musk, only spends half of his time on Tesla ever since Tesla’s inception. He spends most of his time in Southern California, at SpaceX half of the week and for the other half, he works at Tesla.
5Elon Musk did not start Tesla
– Contrary to popular belief, the company was actually founded by two people, Martin Eberhard and Marc Tarpenning. Though the current CEO, Elon Musk led the first investment round in February 2004. It was at that point that he joined the company’s board of directors as Chairman.
6Tesla as a business
– Since creating video games as a young man in South Africa, Tesla’s very own CEO has made some pretty bold moves creating billions for his and his business in the process. The number of companies Musk has taken to valuations over $1 Billion is 4. Namely PayPal, SpaceX, Tesla, and Solar City.
– The Model S has the most spacious front trunk (more known as the “frunk”). It has the most cargo space of any car in it’s class which has a whopping 31.6 cubic feet. Which means it can fit a whole person. The car can also fit a bike, a surfboard and a 55 inch screen TV. And that’s all at once.
8The most coveted award
– The Model S is the first vehicle to ever receive Motortrend’s Car of the year award. This award is one of the most coveted in the automobile industry.
9Exactly how big is Tesla?
– Tesla is big, but not really that big. Tesla is already worth more than other car companies such as Isuzu, Mitsubishi, Suzuki or Fiat. But with a market capitalization of $25 billion, it is only approximately 40 percent the size of Ford or roughly 15 percent the size of Facebook.
– So far there are only 52 Tesla showrooms in the United States and in Canada. They most definitely have a long way to go before they can catch up to Chevrolet’s 3,000 dealerships.
Side note: There are only six parts on a Tesla Model car that needs to be replaced regularly. That would be the two wiper blades and the four tires, which is amazing.
So there you have it, these are 10 facts you (might!) never have known about Tesla Motors. With these facts you should already be well informed about Tesla, it’s electric cars, and their possibilities for when the EV revolution kicks off.