How Tesla Started?
Tesla is an international car company that specializes in electric cars. It rose to the world with all its might, competing with all international car companies among them was Toyota the most prominent one.
Tesla has won many awards, as well as it is ranked sixth in the world in terms of the highest companies with a market value of about $834.2 billion.
So let's see how this company started and how it was able to achieve all this success from its establishment until this moment?
How The Company Started?
The company was established in 2003 and was based in Palo Alto, California. It was built after General Motors recalled and destroyed all of its EV1 cars in the same year.
The EV1 electric car was produced in limited quantities from 1996 to 1999. But General Motors did not continue to produce more of its. On the other hand, the engineers' vision for it and its architecture it was different.
They admired it and considered it one of the most successful designs in the field of cars, and among the engineers were Martin Eberhard and Marc Tarpenning.
Who Started It?
Martin Eberhard and Marc Tarpenning, specialists in the field of engineering, and who have common denominators, especially their passion to build their own companies. They cooperated together in building a company specializing in the production of electric cars.
The company started with a small step, there were not many employees other than Martin and his friend Marc. Therefore, they had to fund the company with their own money, and play the roles that necessary for the company's success.
Martin took over as CEO and Marc was the company's chief financial officer. A few months later, Ian Wright joined them as a third employee for the company. At that time, the three thought of the importance of finding investors to fund the company.
They planned to convince an entrepreneur, Elon Musk to invest in the company. It did not take much time until Elon Musk joined them and contributed an estimated amount of about 6.5 million dollars at the beginning. As he was appointed Chairman of the Board of Directors and the fourth employee in it.
Where Did The Idea Come From?
Tesla was built by a group of engineers who were influenced by the design of the EV1 electric car produced by General Motors. The founders of Tesla were thinking of continuing to produce more electric cars.
Especially, they see in it many advantages that outweigh the cars that run on fuel. As electric cars are characterized by high speed and do not need fuel, which contributes to serving the environment and is more enjoyable than normal cars, and it meets the needs of consumers as well.
Therefore, they planned to build a company that seeks to achieve this vision, which they named Tesla after engineer Nikola Tesla.
The Startup Struggle
Tesla has been unsuccessful since its inception. It faced many problems when trying to produce the first electric car called the Roadster.
It was not widely applicable when it was launched, especially since it cost more than $100,000. In addition, it takes 1-2 days to recharge it.
At that time, the company was unable to present its first production car, and that was in 2005. In the following year, the company fought again in producing a new model of cars. But unfortunately, this time also failed, as it was not able to pass the durability test.
After the company went through struggles at the beginning of its founding, and its failure to produce cars that enjoy the required and good performance. They finally announced their first electric car Roadster in 2008.
It has achieved great success for the company since its launch, which was powered by electric power and supported with full practical specifications that meet the needs of the consumer. As they continued to produce other materials such as batteries that are characterized by strength and cost-effective motor.
After the successes achieved by the company has become a source of concern for other competing companies.
The Investor And Pitch To Start The Company
After the successes that the company achieved over the years. It obtained funding from many entrepreneurs, which is headed by an entrepreneur and founder of PayPal, Elon Musk. Who was the first to join them at the beginning, and followed by the founder of Google Sergey Brin and Larry Page, former eBay president Jeff Skoll, and other entrepreneurs.
As Musk emphasized, the strategic goal set by the company since the beginning of its inception, to be the unique company that produces electric cars. Started by producing a sports car and then moved to produce other cars that are distinguished by their external and internal design, whose prices are commensurate with all consumers as it serve the environment at the same time.