When General Motors and Nissan, both, exclaimed how electric cars can make you lose money, Elon Musk along with others took the challenge and established Tesla Motors. The idea was not new yet it seemed quite impossible.
It took time for everyone to see what it can achieve. And some more for people to believe, but then started the rise of Tesla Motors. And by 2013 first quarter, it was able to earn $11 million. It manufactures cars with its own name and one of its most popular model that hit the market was Model S which has the base price of $62,000. After that, it just climbed up and up.
In the very first quarter, Tesla was able to deliver 1600 cars per month which were a great progress. But for the company, success was measured by “Record vehicle production, deliveries, and revenues”
By now, Tesla is increasing its production rate and is delivering 24,821 vehicles which are exceptional in its own way. And when compared with its figures from 2015, there is a total of 114% rise in the profit earning.
According to Musk, the CEO, it’s one of the “best moments ever” for the company.
At the beginning of 2016, when Model 3 was brought forward, its pre-sale cost was $30,000. And it was recorded, within minutes, thousands of vehicles were ordered. By December 2016, 186,000 electric cars were delivered which raised the profits to a much greater extent.
Also in the same year, Tesla topped Consumer’s Reports’ Annual Owner Satisfaction Survey at 91%.
According to the figures recorded in 2015, Tesla’s net income is US$888.7M. And total assets reached the amount of US$12.59B by 2016. Also, Tesla said, in his latest report, it is planning to spend $2.25 billion on capital expenditures this year.
With every other day, Tesla is successfully achieving most of its goal. By the end of the last quarter, they managed to open 17 new stores thus, the service centers increase to 250 location all over the World. In the same quarter, Tesla announced it would acquire solar panel installer SolarCity for $2.6 billion in stock.
— Business Vision (@BVmagOnline) January 11, 2017
All these figures clearly state how much Tesla has evolved over the years. Like any other company, it did suffer some huge losses but at the time it was able to come back. The company even now has no intention of “staying stagnant” rather than that it is still expanding.
Musk, himself, once said for him money doesn’t matter. He wants to bring something that is both useful and affordable for the common people. He further said that he doesn’t want the “black money’’.
Tesla also manufactures Powerwall, Powerpack batteries, and solar panels for home and industry. The latest report shows the new set target for the company and that is to deliver 500,000 cars within the year of 2018. Which is a huge target? And it met a confused response.
But With such exceptional progress, not many doubt it!