Tesla, Inc. (formerly Tesla Motors), founded in 2003, is an American multinational corporation based in Palo Alto,California, that specializes in electric vehicles, lithium-ion battery energy storage and solar panel manufacturing (through the subsidiary company SolarCity). As of June 2018, Tesla sells the Tesla Model S, Model X, Model 3, Powerwall and Powerpack batteries, solar panels, solar roof tiles, and related products.
CEO Elon Musk said that he envisions Tesla as a technology company and independent automaker, aimed at eventually offering electric cars at prices affordable to the average consumer. The company was named for the electrical engineer and physicist Nikola Tesla by company founders Martin Eberhard and Marc Tarpenning.
The company's Model S was the world's best-selling plug-in electric car in 2015 and 2016. Global sales of the Model S reached the 200,000 unit milestone during the fourth quarter of 2017. In September 2015, the company released its Model X, a crossover SUV. The Model 3 was released in July 2017. Tesla production passed 300,000 vehicles in February 2018.
Tesla operates multiple production and assembly plants, notably Gigafactory 1 near Reno, Nevada and its main vehicle manufacturing facility at Tesla Factory in Fremont, California. The Gigafactory primarily produces batteries and battery packs for Tesla vehicles and energy storage products.