Profile: Tesla, Inc. (formerly known as Tesla Motors), designs, develops, manufactures and sells electric vehicles and designs, manufactures, installs and sells solar energy generation and energy storage products.The Company’s segments include automotive (includes the design, development, manufacturing,sales and leasing of electric vehicles as well as sales of automotive regulatory credits), and energy generation and storage (include the design, manufacture, installation, sales and leasing of solar energy generation and energy storage products, services related to its products, and sales of solar energy system incentives).
Tesla Motors was founded in 2003 by American entrepreneurs Martin Eberhard and Marc Trepanning to develop an electric sports car. Funding for the company was obtained from a variety of sources, most notably PayPal co-founder Elon Musk, who contributed more than $30 million to the new venture and served as chairman of the company, beginning in 2004. Later Elon Musk took over as CEO and in 2010 Tesla’s initial public offering raised around $226 million.Tesla bought the solar panel company SolarCity in 2016, hence in 2017 the company changed its name to Tesla, Inc., to reflect that it no longer sold just cars.
Top Executives: Elon Musk, the co-founder, is the chief executive officer (CEO), director, product architect of Tesla. Zachary Kirk horn is the Chief Financial Officer and Jerome Guillen is Tesla’s President of Automotive.
Elon Musk owns 193.3 million Tesla shares, representing 20.7% of total shares of Tesla. Kimball Musk, the younger brother of Elon Musk, owns a total of 629,740 Tesla shares,representing 0.07% of the Tesla.
Susquehanna Securities owns 60.7 million Tesla shares, representing 6.5% of total shares(Susquehanna Securities is part of the Susquehanna International Group, which offers institutional brokerage services including trading, quantitative research, and fundamental research).
Capital World Investors owns 52.2 million Tesla shares, representing 5.6% of total shares
(Capital World Investors is an equities-focused branch of investment management company Capital Group).
Sales: Tesla reported a profit of $721 million for 2020 on about $31.5 billion in sales, supported by the increase in deliveries and higher revenue from regulatory credits. That compares with an $862 million loss and sales of $24.6 billion in 2019.
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