A few weeks after the company released its Q2 2020 earnings, Tesla share price consolidates in a tight range. Tesla posted its fourth consecutive profitable quarter and becoming eligible for the S&P500 inclusion.
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Tesla
Tesla is an American company that is world-renowned for its electric vehicles, autonomous driving technology, and clean energy products. It was founded by Marc Tarpenning and Martin Eberhard in July 2003 and was known as Tesla Motors in honor of Nikola Tesla, a renowned inventor.
If you are wondering when Elon Musk joined Tesla, he joined the company in February 2004 after making a $6.5 million investment in the company. The investment made Musk the company’s largest shareholder and earned him the chairman’s position.
Elon Musk took over the CEO role in 2008 and is credited with transforming it into a global leader in electric vehicles, autonomous driving, and clean energy. However, Musk has been associated with several controversies during his tenure as CEO.
Tesla started producing its first car, the Roadster, in 2009, with the Tesla Model S sedan entering production in 2012. Tesla Model X SUV entered production in 2015, the Model 3 car in 2017, and the Model Y crossover in 2020.
The Tesla Model 3 is its most popular electric vehicle and, in June 2021, became the first EV to cross the 1 million mark in sales worldwide.
The company has a cult-like following among investors who continue buying its shares and had a market valuation of $1.1 trillion in December 2021, making it the most valuable car manufacturer.
