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Tesla (NASDAQ: TSLA) Company Research Report:
Tesla is an American electric vehicle and clean energy company founded in 2003 by Elon Musk, JB Straubel, Martin Eberhard, Marc Tarpenning, and Ian Wright. The company designs and manufactures electric cars, battery energy storage systems, and solar products.
Tesla's latest reported revenue for fiscal year 2021 was $52.0 billion with a market capitalization of approximately $675 billion as of my knowledge cutoff date.
Tesla's business history dates back to the founding of the company in 2003. Elon Musk joined the company as chairman in 2004 and has since become the face of the company. Tesla's first product was the Tesla Roadster, which was released in 2008, followed by the Model S, Model X, and Model 3 electric cars.
Tesla is successful due to its innovative products, strong brand recognition, and the leadership of its CEO, Elon Musk. The company has been a leader in the electric vehicle market and has disrupted the traditional automotive industry. However, the company has faced challenges such as production issues, supply chain disruptions, and regulatory hurdles.
Tesla's growth plans include expanding its product portfolio with the launch of the Cybertruck and the Tesla Semi. The company is also expanding its manufacturing capacity globally, with plans to build factories in Texas and Germany. However, the company has faced challenges with production and delivery delays, as well as increasing competition in the electric vehicle market.
Tesla's most successful and innovative products include the Model S, Model X, Model 3, and Model Y electric cars. The company's energy storage products, such as the Powerwall and Powerpack, have also gained popularity in the renewable energy market.
Tesla operates in an industry with a large total addressable market, as the shift towards electric vehicles and renewable energy continues to gain momentum.
Tesla's sales may be affected during a recession, as consumers may be less likely to purchase luxury items such as electric cars. However, the company's focus on sustainable energy and government incentives for renewable energy products could help mitigate the impact of a recession.
Tesla's products are not considered to be essential or "mission-critical", but the company's focus on sustainable energy and reducing carbon emissions is becoming increasingly important to consumers and governments around the world.
Tesla has long-term revenue and profit targets, including a goal to reach 20 million vehicles per year by 2030 and achieve full self-driving capabilities for its vehicles. The company also aims to continue reducing the cost of its electric vehicle battery technology.