Tesla: A Look at the Current Situation and Future Outlook
Introduction:
Tesla, Inc. is an American multinational corporation that designs manufactures and sells electric vehicles renewable energy and energy storage. The company was founded in 2003 by entrepreneur Elon Musk with the goal of accelerating the world transition to sustainable energy. In the years since Tesla has grown to become one of the most valuable and talked about companies in the world thanks in part to its ambitious goals and forward thinking approach.
Current Situation:
In recent years Tesla has experienced tremendous growth in both its automotive and energy storage businesses. In 2020 the company delivered over half a million vehicles an increase of 36% from the previous year. Additionally Tesla energy storage business has also seen significant growth with the company installing over 2 GWh of energy storage in 2020.
Tesla's financial performance has also been strong with the company reporting record revenue and profits in 2020. This has been due in part to the company success in increasing production and deliveries of its electric vehicles as well as strong demand for its energy storage products.
One of the most significant recent developments for Tesla has been the companys entry into the Chinese market. In 2019 the company opened its first factory in China which has helped to increase production and reduce costs. Additionally Tesla has also been expanding its presence in other markets such as Europe and India.
