December 1, 2020

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History of Tesla

2 min read
History of Tesla

Tesla (TSLA) motor was first involved in making sports cars. There were various sources of funding for the company back then. Elon Musk was the most notable investor of the company who invested thirty million to the company in 2004. Four years later, the company was able to release its first car named electric Roadster. It was a remarkable step in the electrical vehicle industry as back then the car was able to run more than two hundred and forty miles on a single charge.

Moreover, the performance of the first car of Tesla was similar to many gasoline-powered sports cars. For example, it can accelerate from zero to sixty miles per hour speed in around four seconds. Not only that, the car reached the speed of one hundred and twenty-five miles per hour at the time of testing.  Notably, the carbon fibre made car has no tailpipe emissions, as it did not use an internal-combustion engine and was powered by lithium-ion cells. However, the only problem with the car was the high cost.

Elon Musk became the CEO in 2008 after a sudden resignation from Eberhard. After two years, Tesla managed to raise $ 226 million. After two years of raising the fund, the company started to make a new car named Model S sedan and stopped making the Roadster. There are many differences between these two cars. Firstly, the Model S sedan comes with different battery options. The Model S sedan was a little faster than the Roadster. However, the acceleration of both of these cars was the same at that time. The Model S sedan was also better as the car had a low centre of gravity. For this reason, the car has improved handling. It also comes with extra space underneath the floor.

At that time, the company also started to build superchargers in various places in Europe and the United States. The company also offered free charging for Tesla car owners. Tesla also released Model X after that. Next, the company released the Model 3 with a price of $ 35000. It should be noted, the cost of the Roadster was $109,000 in 2004. This is one of the main secrets of the success of the company. The company can increase the quality of a car and also decrease the price at the same time.

Tesla also started to sell solar energy products. The company also started working on batteries. For making batteries, the company also made partnerships with many companies. The company acquired SolarCity four years ago. It is expected that there are many more inventions that will come in the market from the company in future.   You can check more TSLA news before investing in Tesla stock.

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