In October 2021, Tesla's market capitalization temporarily reached $1 trillion, the sixth company to do so in U.S. Tesla's 2022 deliveries were around 1.31 million vehicles, a 40% increase over the previous year, and cumulative sales totaled 4 million cars as of April 2023. The Model 3 is the all-time bestselling plug-in electric car worldwide, and in June 2021 became the first electric car to sell 1 million units globally. The company plans production of the Cybertruck light-duty pickup truck in 2023.
This was followed by the Model S sedan in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, the Model Y crossover in 2020, and the Tesla Semi truck in 2022. Tesla began production of its first car model, the Roadster sports car, in 2008. Tesla's announced mission is to help expedite the move to sustainable transport and energy, obtained through electric vehicles and solar power. In February 2004, via a $6.5 million investment, Elon Musk became the company's largest shareholder. The company's name is a tribute to inventor and electrical engineer Nikola Tesla. Tesla was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors.
Tesla Energy is one of the largest global suppliers of battery energy storage systems with 6.5 gigawatt-hours (GWh) installed in 2022. Its subsidiary Tesla Energy develops and is a major installer of photovoltaic systems in the United States.
In 2022, the company led the battery electric vehicle market, with 18% share. Tesla is one of the world's most valuable companies and, as of 2023, was the world's most valuable automaker. Tesla designs and manufactures electric vehicles ( cars and trucks), stationary battery energy storage devices from home to grid-scale, solar panels and solar roof tiles, and related products and services. ( / ˈ t ɛ s l ə/ TESS-lə or / ˈ t ɛ z l ə/ TEZ-lə ) is an American multinational automotive and clean energy company headquartered in Austin, Texas.
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