Tesla Motors - 11843 Words

For the exclusive use of T. Song, 2015. 9-714-413 REV: JANUARY 24, 2014 ERIC VAN DEN STEEN Tesla Motors â€Å"Tesla is in California, so it is not April Fool’s yet!† tweeted Elon Musk, CEO of Tesla Motors, around 10 PM PT on March 31, 2013. â€Å"First profitable Q for Tesla thanks to awesome customers hard work by a super dedicated team†1 he had tweeted a few minutes earlier. And indeed, on May 8, Tesla announced a net income of more than $10mln on $560 mln in sales.2 Tesla had outsold both Nissan and GM in electric cars in the U.S.3 Its Model S had sold more than the BMW 7 and Audi A8 combined.4 Tesla raised its Model S sales target for its first full year from 20,000 to 21,000 cars.5 Over the next three months, its stock price†¦show more content†¦market in 2012, though that was down from 98% in 1969.14 Despite this high concentration, two of the three large U.S. car manufacturers went bankrupt in 2009. Since WWII, no U.S. firm had successfully entered the car industry with a mass-produced car, until (maybe) Tesla. ________________________________________________________________________________________________________________ Professor Eric Van den Steen prepared this case. This case was developed from published sources. Funding for the development of this case was provided by Harvard Business School, and not by the company. HBS cases are developed solely as the basis for class discussion. Cases are not intended to serve as endorsements, sources of primary data, or illustrations of effective or ineffective management. Copyright  © 2014 President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-800-545-7685, write Harvard Business School Publishing, Boston, MA 02163, or go to www.hbsp.harvard.edu/educators. This publication may not be digitized, photocopied, or otherwise reproduced, posted, or transmitted, without the permission of Harvard Business School. This document is authorized for use only by Tao Song in COMM401 FALL 15 taught by Rajshree Prakash, Concordia University - Canada from September 2015 to MarchShow MoreRelatedTesla Motors Inc. ( Tesla )2126 Words   |  9 Pages Introduction Tesla Motors Inc. (Tesla) was founded in 2003 by a group of engineers in Silicon Valley. Tesla has been in the business of designing and manufacturing fully electric vehicles (EVs). The company’s name came from Nikola Tesla, who influenced the design of the powertrain for their first vehicle. Tesla’s CEO is Elon Musk, he had a few goals for his company. First, was to build a sportscar. The next goal was to use that money to design and sell a more affordable car. 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