Tesla began production of its first car model, the Roadster sports car, in 2008. According to Musk, the purpose of Tesla is to help expedite the move to sustainable transport and energy, obtained through electric vehicles and solar power. In February 2004, via a $6.5 million investment, Elon Musk became the largest shareholder of the company. The company's name is a tribute to inventor and electrical engineer Nikola Tesla. Tesla was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors. Tesla Energy is also one of the largest global suppliers of battery energy storage systems, with 6.5 gigawatt-hours (GWh) installed in 2022. Through its subsidiary Tesla Energy, the company develops and is a major installer of photovoltaic systems in the United States. In 2022, the company had the most worldwide sales of battery electric vehicles, capturing 18% of the market. Tesla is one of the world's most valuable companies and, as of 2023, is the world's most valuable automaker. Tesla designs and manufactures electric vehicles ( electric cars and trucks), battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. ( / ˈ t ɛ s l ə/ TESS-lə or / ˈ t ɛ z l ə/ TEZ-lə ) is an American multinational automotive and clean energy company headquartered in Austin, Texas.
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