Tesla's announced mission is to create products which help "accelerate the world’s transition to sustainable energy." In February 2004, via a $6.5 million investment, Elon Musk became the company's largest shareholder. 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. In 2022, the company led the battery electric vehicle market, with 18% share. Tesla is one of the world's most valuable companies and, as of 2023, is the world's most valuable automaker. Its subsidiary Tesla Energy develops and is a major installer of photovoltaic systems in the United States and is one of the largest global suppliers of battery energy storage systems with 6.5 gigawatt-hours (GWh) installed in 2022. ( / 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, which designs and manufactures electric vehicles ( cars and trucks), stationary battery energy storage devices from home to grid-scale, solar panels and solar shingles, and related products and services.
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