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Unique Success Story Of Tesla

Tesla is a famous brand in USA. It is an electric vehicle company based out of Palo Alto, California The organization offers a wide range of products: electric vehicles, solar panels, batter energy storage and many more. It has 5 major factories in China, USA and Europe.

The brand has become a household name in US with its high-tech, futuristic and innovative products. And is giving tough competition to Ford and GM. The company’s unique positioning is one of its best strengths. Chevrolet Bolt of GM is seen as the direct competitor of Tesla, but still Tesla cars are uniquely different that consumers can easily find out.

success story of tesla

Slogan Of Tesla:

To accelerate the advent of sustainable transport and electric technology

Vision Of Tesla:

To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles

Tesla Core Values:

  • Doing the best
  • Taking the risks
  • Constant learning
  • Respect
  • Environmental consciousness

Tesla’s Business Model:

  • It is vertically integrated
  • Based on direct sales and service
  • It operates the plants where vehicles are manufactured and Gigafactory producing battery

Initial Story:

  • It was founded in the year 2003
  • It was founded by Martin Eberhard and Marc Tarpenning
  • They were later joined by JB Straubel, Elon Musk and Ian Wright
  • Elon Musk is the CEO of the company since 2008
  • It has its European headquarters in Netherlands
  • In 2008, it proved with its Roadster model that electric cars could be amazing
  • In 2008, the organization sold more than 50,000 vehicles

Company’s Gradual Growth To Success:

  • It launched its initial public offering in the year 2010 on NASDAQ
  • $226 million was raised for the company with IPO
  • In Q1 2013, company gained profits since its foundation
  • It was almost $11 million in numbers
  • By the year 2015, the organization had the second factory in Fremont, just miles away from Fremont plant
  • In 2017, Elon Musk stated having six months of production difficulties
  • In 2018, Tesla’s Model-3 was listed as the world’s popular and high selling electric car
  • It became popular in other countries Denmark, Canada, New Zealand, Spain, Switzerland, Australia and many more
  • In Q2 of 2020, even due to lockdown the company produced 82, 272 units
  • It was only a 4.8% decline from last quarter

What Software Does Tesla Use During Designing Phase?

The company uses Dassault products from the beginning. Most of the designers started with SolidWorks and as it became complex, they moved to CATIA for efficient 3D modeling. They also moved from its data management tool to ENOVIA version 6.

Tesla’s Software Version 10.0 In Vehicles:

  • On September 26, 2019, Tesla team announced a major software update
  • It was software version 10.0
  • The car offered gaming, entertainment, music and other features to consumers
  • It would have Tesla theater, smart summon, karaoke, restaurants & destinations, Tesla arcade
  • Besides that, it would have music & podcasts, security & convenience, streaming media and browser support

Tesla’s Marketing Strategy:

  • Elon Musk is seen as a visionary marketer
  • He significantly controls the timing when the content needs to be released
  • The brand cares about the user experience
  • Word of mouth has been the driving force to increase sales number

Where Tesla Stands Today?

  • Tesla looks for sustainable innovation and wants to end dependency on fossil fuel
  • It has also diversified into Space to make people know “something new happening in space”
  • It sent its Tesla Roadster to space on February 6, 2018
  • The car was within 0.05 astronomical units of Mars as posted by SpaceX on October 7, 2020
  • In March 2021, Elon stated Tesla accepting bitcoins for car payment
  • SpaceX would collaborate with GEC to sell space art as per news on May 2021
  • In Q1 2021, Tesla earned an income of $438 million
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