Tesla Motors Case Study
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TABLE OF CONTENTS
EXECUTIVE SUMMARY
COMPANY OVERVIEW
INDUSTRY ANALYSIS
ACCOUNTING AND FINANCE
MARKETING
APPENDICES
EXECUTIVE SUMMARY
Tesla Motors (Tesla) develops, manufactures, and sells fully electric high-performance vehicles (EVs) as well as electric powertrains. The companys primary sources of revenue have been sales of the Telsa Roadster and the electric powertrain development services it provides to other automobile manufacturers.
Tesla had its initial public offering (IPO) on July 2, 2010 and is now traded on the NASDAQ Exchange as TSLA. The company is developing a new vehicle, the Model S, which will go into production in mid-2012.
COMPANY OVERVIEW
History. Tesla was founded in 20031 with the idea that the same lithium-ion technology used in laptops could be used to create a fully electric vehicle that is not only eco-friendly but also attractive and fun to drive. The company began raising venture capital in the spring of 2004 and by the end of that year had designed its first vehicle.2 Tesla produced the first Roadster in 2008 and has sold approximately 1,350 of these vehicles as of September 30, 2010.3 In January 2010, Tesla secured a long-term Department of Energy(DOE) Loan Facility to finance development of EVs, powertrains, and manufacturing facilities. The DOE loan facility, along with cash generated from the IPO has allowed for the continuing development of the Model S, the purchase and retooling of a manufacturing facility in Fremont, CA, and the expansion of the powertrain facility in Palo Alto, CA.4 (Appendix B)
Strategic Partnerships. In March 2008 Tesla