Tesla

Tesla Motors was incorporated on July 1, 2003 by Martin Eberhard and Marc Tarpenning. Elon Musk did not found the company. He joined as chairman and lead investor in the Series A round in 2004, contributing $6.5 million. Musk would later fight a prolonged legal battle with Eberhard over credit for the founding — a dispute settled out of court in 2009.

By Christmas Eve 2008, Tesla was days from bankruptcy. The global financial crisis had frozen capital markets, and Musk had personally invested nearly his entire fortune into Tesla and SpaceX simultaneously. On December 24, Tesla closed a $40 million emergency financing round with hours to spare. It remains one of the most dramatic near-death experiences in corporate history.

When Tesla launched the Model S in 2012, Consumer Reports gave it 99 out of 100 — the highest score in the publication's history. Motor Trend named it Car of the Year. The automotive industry, which had dismissed electric vehicles as glorified golf carts, quietly began its own electric programmes. Tesla had proved the concept was real.

Tesla began aggressive price cuts in 2023, dropping some vehicle prices by over 20% to protect market share against surging Chinese competition, particularly from BYD, which overtook Tesla as the world's largest EV manufacturer by volume. The strategy worked for volume but crushed margins. Tesla's operating margin fell from 17% to under 10%. Investors began questioning whether the EV market was becoming a commodity business.

In June 2025, Tesla launched its robotaxi service in Austin, Texas — fully autonomous rides using Model Y vehicles, with no safety driver. It was the moment Elon Musk had been promising for years, finally real. The service subsequently expanded to Dallas and Houston. By January 2026, Tesla was operating driverless robotaxis in Austin with no human safety backup — a first for any service outside Waymo.

Tesla began manufacturing the Cybercab in April 2026 at Gigafactory Texas — a purpose-built robotaxi with no steering wheel, no pedals, and no side mirrors, designed entirely for autonomous operation and priced under $30,000. Elon Musk's compensation package of $1 trillion — contingent on scaling robotaxis to 10 million units — had been approved by shareholders. The company that had spent its first decade surviving was now betting its next decade on replacing human drivers entirely.