Editing Tesla, Inc.
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|date=November 11, 2014 | |date=November 11, 2014 | ||
|access-date=October 3, 2018 |website=Business Insider}}</ref><ref>{{cite web |title=Tesla Energy Generation And Storage Business: Q4 2020 Results |url=https://insideevs.com/news/482496/tesla-energy-generation-storage-q4-2020-results/ | date=January 27, 2021}}</ref><ref>{{cite web |title=Elon Musk |url=https://www.forbes.com/profile/elon-musk/ |website=[[Forbes]]}}</ref><ref>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1318605/000156459021044307/tsla-pre14a_20210813.htm | title=Schedule 14A Information | publisher=[[U.S. Securities and Exchange Commission]]}}</ref><ref name="10K_2022">{{cite web |title=Annual report Form 10-K 2022 Tesla Inc. |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000095017023001409/tsla-20221231.htm |date=January 31, 2023 |publisher=[[U.S. Securities and Exchange Commission]]}}</ref> | |access-date=October 3, 2018 |website=Business Insider}}</ref><ref>{{cite web |title=Tesla Energy Generation And Storage Business: Q4 2020 Results |url=https://insideevs.com/news/482496/tesla-energy-generation-storage-q4-2020-results/ | date=January 27, 2021}}</ref><ref>{{cite web |title=Elon Musk |url=https://www.forbes.com/profile/elon-musk/ |website=[[Forbes]]}}</ref><ref>{{cite web | url=https://www.sec.gov/Archives/edgar/data/1318605/000156459021044307/tsla-pre14a_20210813.htm | title=Schedule 14A Information | publisher=[[U.S. Securities and Exchange Commission]]}}</ref><ref name="10K_2022">{{cite web |title=Annual report Form 10-K 2022 Tesla Inc. |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1318605/000095017023001409/tsla-20221231.htm |date=January 31, 2023 |publisher=[[U.S. Securities and Exchange Commission]]}}</ref> | ||
}} | }}Tesla is on a mission to accelerate the world's transition to sustainable energy.<ref name=":3">https://www.tesla.com/about</ref> | ||
The company sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. Tesla emphasises performance, attractive styling and the safety of its users in the design and manufacture of its products and is continuing to develop full self-driving technology for improved safety. The company also strives to lower the cost of ownership for its customers through continuous efforts to reduce manufacturing costs and by offering financial and other services tailored to its products.<ref name=":4">https://www.sec.gov/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm</ref> | The company sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. Tesla is an innovator that emphasises performance, attractive styling and the safety of its users in the design and manufacture of its products and is continuing to develop full self-driving technology for improved safety. The company also strives to lower the cost of ownership for its customers through continuous efforts to reduce manufacturing costs and by offering financial and other services tailored to its products.<ref name=":4">https://www.sec.gov/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm</ref> | ||
Assuming that Tesla increases its share of the automotive market to 10% (from 2%) and other assumptions, the expected return of an investment in the company over the next five years is negative 24%, which equates to an annual return of negative 4%. In other words, an £100,000 investment in the company is expected to return £76,000 in five years time. | Assuming that Tesla increases its share of the automotive market to 10% (from 2%) and other assumptions, the expected return of an investment in the company over the next five years is negative 24%, which equates to an annual return of negative 4%. In other words, an £100,000 investment in the company is expected to return £76,000 in five years time. | ||
The degree of risk associated with an investment in Tesla is 'high', with the shares having a beta that is 112% above the market (2.12 vs. 1) | The degree of risk associated with an investment in Tesla is 'high', with the shares having a beta that is 112% above the market (2.12 vs. 1). | ||
==Operations== | ==Operations== | ||
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The idea of the company came about when the now founding team of the company realised that the current way that humankind is meeting its energy needs is unsustainable and bad for the planet.<ref name=":9">https://www.tesla.com/en_GB/blog/secret-tesla-motors-master-plan-just-between-you-and-me</ref> | The idea of the company came about when the now founding team of the company realised that the current way that humankind is meeting its energy needs is unsustainable and bad for the planet.<ref name=":9">https://www.tesla.com/en_GB/blog/secret-tesla-motors-master-plan-just-between-you-and-me</ref> | ||
Currently, an estimated 85% of the world's energy needs are met by burning fossil fuels<ref>https://wedocs.unep.org/bitstream/handle/20.500.11822/30797/EGR2019.pdf?sequence=1&isAllowed=y</ref>, and energy production and consumption are responsible for 76% of annual human-caused greenhouse gas emissions.<ref | Currently, an estimated 85% of the world's energy needs are met by burning fossil fuels<ref>https://wedocs.unep.org/bitstream/handle/20.500.11822/30797/EGR2019.pdf?sequence=1&isAllowed=y</ref>, and energy production and consumption are responsible for 76% of annual human-caused greenhouse gas emissions.<ref>https://www.climatewatchdata.org/ghg-emissions?breakBy=sector&chartType=percentage&end_year=2018§ors=total-including-lucf&start_year=1990</ref><ref>https://www.wri.org/insights/4-charts-explain-greenhouse-gas-emissions-countries-and-sectors</ref> | ||
Researching into a better way to meet the energy needs, the team concluded that the best way to do so is to move to a solar electric economy, from a mine-and-burn hydrocarbon economy.<ref name=":9" /> | Researching into a better way to meet the energy needs, the team concluded that the best way to do so is to move to a solar electric economy, from a mine-and-burn hydrocarbon economy.<ref name=":9" /> | ||
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! colspan="2" |Model X | ! colspan="2" |Model X | ||
! colspan="3" |Model 3 | ! colspan="3" |Model 3 | ||
! colspan=" | ! colspan="3" |Model Y | ||
|- | |- | ||
!Type | !Type | ||
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!Long Range<ref name=":14" /> | !Long Range<ref name=":14" /> | ||
!Performance<ref name=":14" /> | !Performance<ref name=":14" /> | ||
!Standard | |||
!Long Range<ref name=":15">https://www.tesla.com/modely</ref> | !Long Range<ref name=":15">https://www.tesla.com/modely</ref> | ||
!Performance<ref name=":15" /> | !Performance<ref name=":15" /> | ||
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|style="background: orange; color: white;" |Yes | |style="background: orange; color: white;" |Yes | ||
|style="background: orange; color: white;" |Yes | |style="background: orange; color: white;" |Yes | ||
|Yes | |||
| style="background: orange; color: white;" |Yes | | style="background: orange; color: white;" |Yes | ||
|style="background: orange; color: white;" |Yes | |style="background: orange; color: white;" |Yes | ||
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|style="background: orange; color: white;" |4.2 seconds | |style="background: orange; color: white;" |4.2 seconds | ||
|style="background: orange; color: white;" |3.1 seconds | |style="background: orange; color: white;" |3.1 seconds | ||
|5.0 seconds | |||
| style="background: orange; color: white;" |4.8 seconds | | style="background: orange; color: white;" |4.8 seconds | ||
|style="background: orange; color: white;" |3.5 seconds | |style="background: orange; color: white;" |3.5 seconds | ||
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|style="background: orange; color: white;" |333 miles | |style="background: orange; color: white;" |333 miles | ||
| style="background: red; color: white;" |272 miles | | style="background: red; color: white;" |272 miles | ||
|style="background: orange; color: white;" | | |style="background: orange; color: white;" |333 miles | ||
|style="background: orange; color: white;" |315 miles | |style="background: orange; color: white;" |315 miles | ||
|279 miles | |||
| style="background: orange; color: white;" |330 miles | | style="background: orange; color: white;" |330 miles | ||
|style="background: orange; color: white;" |303 miles | |style="background: orange; color: white;" |303 miles | ||
|- | |- | ||
|What's the top speed of the vehicle? | |What's the top speed of the vehicle? | ||
| style="background: orange; color: white;" | | | style="background: orange; color: white;" |149 miles per hour | ||
|style="background: green; color: white;" |200 miles per hour | |style="background: green; color: white;" |200 miles per hour | ||
| style="background: orange; color: white;" | | | style="background: orange; color: white;" |149 miles per hour | ||
|style="background: orange; color: white;" | | |style="background: orange; color: white;" |149 miles per hour | ||
| style="background: orange; color: white;" |140 miles per hour | | style="background: orange; color: white;" |140 miles per hour | ||
|style="background: orange; color: white;" |145 miles per hour | |style="background: orange; color: white;" |145 miles per hour | ||
|style="background: orange; color: white;" |162 miles per hour | |style="background: orange; color: white;" |162 miles per hour | ||
|135 miles per hour | |||
| style="background: red; color: white;" |135 miles per hour | | style="background: red; color: white;" |135 miles per hour | ||
|style="background: orange; color: white;" |155 miles per hour | |style="background: orange; color: white;" |155 miles per hour | ||
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|style="background: orange; color: white;" |Sedan (i.e. car) | |style="background: orange; color: white;" |Sedan (i.e. car) | ||
|style="background: orange; color: white;" |Sedan (i.e. car) | |style="background: orange; color: white;" |Sedan (i.e. car) | ||
|SUV (i.e. car) | |||
| style="background: orange; color: white;" |SUV (i.e. car) | | style="background: orange; color: white;" |SUV (i.e. car) | ||
|style="background: orange; color: white;" |SUV (i.e. car) | |style="background: orange; color: white;" |SUV (i.e. car) | ||
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|style="background: orange; color: white;" |5 out of 5 stars | |style="background: orange; color: white;" |5 out of 5 stars | ||
|style="background: orange; color: white;" |5 out of 5 stars | |style="background: orange; color: white;" |5 out of 5 stars | ||
|5 out of 5 stars | |||
| style="background: orange; color: white;" |5 out of 5 stars | | style="background: orange; color: white;" |5 out of 5 stars | ||
|style="background: orange; color: white;" |5 out of 5 stars | |style="background: orange; color: white;" |5 out of 5 stars | ||
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|style="background: red; color: white;" |5 seats | |style="background: red; color: white;" |5 seats | ||
|style="background: red; color: white;" |5 seats | |style="background: red; color: white;" |5 seats | ||
|5 seats | |||
| style="background: orange; color: white;" |7 seats | | style="background: orange; color: white;" |7 seats | ||
|style="background: red; color: white;" |5 seats | |style="background: red; color: white;" |5 seats | ||
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| style="background: red; color: white;" |28 cubic feet | | style="background: red; color: white;" |28 cubic feet | ||
|style="background: red; color: white;" |28 cubic feet | |style="background: red; color: white;" |28 cubic feet | ||
| style="background: orange; color: white;" | | | style="background: orange; color: white;" |92 cubic feet | ||
|style="background: orange; color: white;" | | |style="background: orange; color: white;" |92 cubic feet | ||
| style="background: red; color: white;" |23 cubic feet | | style="background: red; color: white;" |23 cubic feet | ||
|style="background: red; color: white;" |23 cubic feet | |style="background: red; color: white;" |23 cubic feet | ||
|style="background: red; color: white;" |23 cubic feet | |style="background: red; color: white;" |23 cubic feet | ||
|76 cubic feet | |||
| style="background: red; color: white;" |76 cubic feet | | style="background: red; color: white;" |76 cubic feet | ||
|style="background: red; color: white;" |76 cubic feet | |style="background: red; color: white;" |76 cubic feet | ||
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|style="background: orange; color: white;" |All-wheel drive | |style="background: orange; color: white;" |All-wheel drive | ||
|style="background: orange; color: white;" |All-wheel drive | |style="background: orange; color: white;" |All-wheel drive | ||
|All-wheel drive | |||
| style="background: orange; color: white;" |All-wheel drive | | style="background: orange; color: white;" |All-wheel drive | ||
|style="background: orange; color: white;" |All-wheel drive | |style="background: orange; color: white;" |All-wheel drive | ||
|- | |- | ||
|What's the price of the vehicle? | |What's the price of the vehicle? | ||
| style="background: orange; color: white;" |$ | | style="background: orange; color: white;" |$88,490 | ||
|style="background: orange; color: white;" |$ | |style="background: orange; color: white;" |$108,490 | ||
| style="background: orange; color: white;" |$ | | style="background: orange; color: white;" |$98,490 | ||
|style="background: red; color: white;" |$ | |style="background: red; color: white;" |$108,490 | ||
| style="background: green; color: white;" |$ | | style="background: green; color: white;" |$40,240 | ||
|style="background: orange; color: white;" |$ | |style="background: orange; color: white;" |$47,240 | ||
|style="background: orange; color: white;" |$ | |style="background: orange; color: white;" |$53,240 | ||
| style="background: orange; color: white;" |$ | |$47,740 | ||
|style="background: orange; color: white;" |$ | | style="background: orange; color: white;" |$52,990 | ||
|style="background: orange; color: white;" |$54,490 | |||
|- | |- | ||
|What's the vehicle's price per cargo capacity? | |What's the vehicle's price per cargo capacity? | ||
| style="background: orange; color: white;" |$3, | | style="background: orange; color: white;" |$3,160 per cubic feet | ||
|style="background: red; color: white;" |$ | |style="background: red; color: white;" |$3,875 per cubic feet | ||
| style="background: orange; color: white;" |$1, | | style="background: orange; color: white;" |$1,071 per cubic feet | ||
|style="background: orange; color: white;" |$1, | |style="background: orange; color: white;" |$1,179 per cubic feet | ||
| style="background: orange; color: white;" |$ | | style="background: orange; color: white;" |$1,750 per cubic feet | ||
|style="background: orange; color: white;" |$2, | |style="background: orange; color: white;" |$2,054 per cubic feet | ||
|style="background: orange; color: white;" |$2, | |style="background: orange; color: white;" |$2,315 per cubic feet | ||
| style="background: green; color: white;" |$ | |$628 per cubic feet | ||
|style="background: orange; color: white;" |$ | | style="background: green; color: white;" |$697 per cubic feet | ||
|style="background: orange; color: white;" |$717 per cubic feet | |||
|- | |- | ||
|What's the vehicle's price per seat? | |What's the vehicle's price per seat? | ||
| style="background: orange; color: white;" |$ | | style="background: orange; color: white;" |$17,698 per seat | ||
|style="background: red; color: white;" |$ | |style="background: red; color: white;" |$21,698 per seat | ||
| style="background: orange; color: white;" |$ | | style="background: orange; color: white;" |$14,070 per seat | ||
|style="background: orange; color: white;" |$ | |style="background: orange; color: white;" |$18,082 per seat | ||
| style="background: orange; color: white;" |$ | | style="background: orange; color: white;" |$8,048 per seat | ||
|style="background: orange; color: white;" |$ | |style="background: orange; color: white;" |$9,448 per seat | ||
|style="background: orange; color: white;" |$ | |style="background: orange; color: white;" |$10,648 per seat | ||
| style="background: green; color: white;" |$ | |$9,548 per seat | ||
|style="background: orange; color: white;" |$ | | style="background: green; color: white;" |$7,570 per seat | ||
|style="background: orange; color: white;" |$10,898 per seat | |||
|} | |} | ||
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|Which Tesla car has the largest cargo capacity? | |Which Tesla car has the largest cargo capacity? | ||
|Model X and Model X Plaid | |Model X and Model X Plaid | ||
|The cargo capacity of the car is | |The cargo capacity of the car is 92 cubic feet. | ||
|- | |- | ||
|Which Tesla car has the most seats? | |Which Tesla car has the most seats? | ||
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|Which Tesla car is the lowest priced? | |Which Tesla car is the lowest priced? | ||
|Model 3 Rear-Wheel Drive | |Model 3 Rear-Wheel Drive | ||
|The price of the car is $ | |The price of the car is $40,240. | ||
|- | |- | ||
|Which Tesla car has the lowest price per cargo capacity? | |Which Tesla car has the lowest price per cargo capacity? | ||
|Model Y | |Model Y Standard | ||
|The price per cargo capacity of the car is $ | |The price per cargo capacity of the car is $628 per cubic feet. | ||
|- | |- | ||
|Which Tesla car has the lowest price per seat? | |Which Tesla car has the lowest price per seat? | ||
|Model Y Long Range | |Model Y Long Range | ||
|The price per seat of the car is $ | |The price per seat of the car is $7,570 per seat. | ||
|} | |} | ||
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'''Cybertruck''' | '''Cybertruck''' | ||
Cybertruck is a truck, a motor vehicle designed to transport cargo, carry specialised payloads, or perform other utilitarian work. What will be unique about the offering is that it will be the safest vehicle that Tesla provides. The price of the offering is expected to be $39,900.<ref>https://www.autoexpress.co.uk/tesla/cybertruck/96447/tesla-cybertruck-delayed-until-least-2023#:~:text=Tesla%20Cybertruck%3A%20performance%20and%20range&text=Entry%2Dlevel%2C%20Single%20Motor%2C,a%20top%20speed%20of%20110mph.</ref> | Cybertruck is a truck, a motor vehicle designed to transport cargo, carry specialised payloads, or perform other utilitarian work. What will be unique about the offering is that it will be the safest vehicle that Tesla provides- combining both ultra-hard 30x cold-rolled stainless steel and Tesla Armor Glass. The price of the offering is expected to be $39,900.<ref>https://www.autoexpress.co.uk/tesla/cybertruck/96447/tesla-cybertruck-delayed-until-least-2023#:~:text=Tesla%20Cybertruck%3A%20performance%20and%20range&text=Entry%2Dlevel%2C%20Single%20Motor%2C,a%20top%20speed%20of%20110mph.</ref> | ||
[[File:Cybertruck-Hero-Desktop.jpg]] | [[File:Cybertruck-Hero-Desktop.jpg]] | ||
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'''Tesla Semi''' | '''Tesla Semi''' | ||
Tesla Semi is a semi-trailer truck, a motor vehicle that is designed to transport large cargo, via one or more of its attached trailers. What will be unique about the offering is that it will be the largest cargo capacity vehicle that Tesla provides. The price of the offering is around $150,000. | Tesla Semi is a semi-trailer truck, a motor vehicle that is designed to transport large cargo, via one or more of its attached trailers. What will be unique about the offering is that it will be the largest cargo capacity vehicle that Tesla provides. Moreover, operators will see approximate savings of $200,000 after three years because charging with electricity is cheaper than refueling with diesel. The price of the offering is around $150,000. | ||
[[File:Tesla-semi.jpg]] | [[File:Tesla-semi.jpg]] | ||
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'''Powerwall''' | '''Powerwall''' | ||
Powerwall is a energy storage system (i.e. a type of battery).<ref name=":4" /> What’s unique about the offering is that it's the lowest priced energy storage system that Tesla provides, selling at $10,500. The energy capacity of the product is 13.5 kilowatt hour (kWh). To help put the capacity into perspective, in 2020, the average household in the United States consumed 29 kWh per day.<ref>https://www.eia.gov/tools/faqs/faq.php?id=97&t=3#:~:text=How%20much%20electricity%20does%20an,about%20893%20kWh%20per%20month.</ref> So, if the average household is powered from Powerwalls only, then it will require around two Powerwalls to power the whole house, at an average annual cost of $2,247. | Powerwall is a energy storage system (i.e. a type of battery).<ref name=":4" /> What’s unique about the offering is that it's the lowest priced energy storage system that Tesla provides, selling at $10,500. The energy capacity of the product is 13.5 kilowatt hour (kWh). To help put the capacity into perspective, in 2020, the average household in the United States consumed 29 kWh per day.<ref>https://www.eia.gov/tools/faqs/faq.php?id=97&t=3#:~:text=How%20much%20electricity%20does%20an,about%20893%20kWh%20per%20month.</ref> So, if the average household is powered from Powerwalls only, then it will require around two Powerwalls to power the whole house, at an average annual cost of $2,247. Furthermore, Tesla offers its Powerwall buyers a $500 rebate for each Powerwall registered between June and October 2023. | ||
[[File:Powerwall2.jpg]] | [[File:Powerwall2.jpg]] | ||
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# Develop a self-driving capability that is 10x safer than manual, via massive fleet learning; and | # Develop a self-driving capability that is 10x safer than manual, via massive fleet learning; and | ||
# Enable your car to make money for you when you aren't using it. | # Enable your car to make money for you when you aren't using it. | ||
It's worth noting that 10 years earlier than the publication of the 2016 blog post, Elon detailed the company's first master plan<ref name=":9" />, and the company has managed to achieve all of the milestones, which were as follows: | It's worth noting that 10 years earlier than the publication of the 2016 blog post, Elon Musk detailed the company's first master plan<ref name=":9" />, and the company has managed to achieve all of the milestones, which were as follows: | ||
#Build a sports car (i.e. the Tesla Model S); | #Build a sports car (i.e. the Tesla Model S); | ||
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Here, the serviceable obtainable market (SOM) is defined as the US car market, and based on a number of assumptions, it is estimated that the size of the market as of today (30th May 2022), in terms of revenue, is $262 billion. | Here, the serviceable obtainable market (SOM) is defined as the US car market, and based on a number of assumptions, it is estimated that the size of the market as of today (30th May 2022), in terms of revenue, is $262 billion. | ||
=== Industry Demand Drivers === | |||
The mayor drivers of industry performance within the electric and hybrid US vehicle manufacturing market are:<ref>https://0-my-ibisworld-com.pugwash.lib.warwick.ac.uk/us/en/industry-specialized/od4516/industry-performance</ref> | |||
# '''Consumer confidence index:''' When consumers have less disposable income, they tend to delay purchases. The consumer confidence index plummeted during 2020 and is expected to further decrease during 2023 due to the expected recession. | |||
# '''Demand from new car dealers:''' The financial crisis has greatly affected dealers as companies have struggled to find enough funds to stock their showrooms. | |||
# '''World price of crude oil:''' Through 2023, the price of gasoline has grown, and consequently consumers have started to consider more purchasing more energy efficient vehicles like hybrid or electric cars. | |||
# Trade-weighted index: | |||
# Tax credits for energy efficiency | |||
== Competition== | == Competition== | ||
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Tesla believes that its vehicles compete in the market both based on their traditional segment classification as well as based on their propulsion technology. For example, Model S and Model X compete primarily with premium sedans and premium SUVs, and Model 3 and Model Y compete with small to medium-sized sedans and compact SUVs, which are extremely competitive markets. Competing products typically include internal combustion vehicles from more established automobile manufacturers; however, many established and new automobile manufacturers have entered or have announced plans to enter the market for electric and other alternative fuel vehicles. Many major automobile manufacturers have electric vehicles available today in major markets including the US, China and Europe, and other current and prospective automobile manufacturers are also developing electric vehicles. In addition, several manufacturers offer hybrid vehicles, including plug-in versions. | Tesla believes that its vehicles compete in the market both based on their traditional segment classification as well as based on their propulsion technology. For example, Model S and Model X compete primarily with premium sedans and premium SUVs, and Model 3 and Model Y compete with small to medium-sized sedans and compact SUVs, which are extremely competitive markets. Competing products typically include internal combustion vehicles from more established automobile manufacturers; however, many established and new automobile manufacturers have entered or have announced plans to enter the market for electric and other alternative fuel vehicles. Many major automobile manufacturers have electric vehicles available today in major markets including the US, China and Europe, and other current and prospective automobile manufacturers are also developing electric vehicles. In addition, several manufacturers offer hybrid vehicles, including plug-in versions. | ||
Moreover, Tesla holds a 51.9% market share within the Hybrid and Electric US vehicle manufacturing market in 2023.<ref>https://0-my-ibisworld-com.pugwash.lib.warwick.ac.uk/us/en/industry-specialized/od4516/industry-performance</ref> Other competitors within this market include | |||
Tesla also believes that there is increasing competition for its vehicle offerings as a platform for delivering self-driving technologies, charging offerings and other features and services, and it expects to compete in this developing market through continued progress on its autopilot, full self-driving and neural network capabilities, Supercharger network and its infotainment offerings. | Tesla also believes that there is increasing competition for its vehicle offerings as a platform for delivering self-driving technologies, charging offerings and other features and services, and it expects to compete in this developing market through continued progress on its autopilot, full self-driving and neural network capabilities, Supercharger network and its infotainment offerings. | ||
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[[File:Elon Musk Royal Society (crop2).jpg|200px]] | [[File:Elon Musk Royal Society (crop2).jpg|200px]] | ||
Elon Musk is the Chief Executive Officer of Tesla and has served the position since October 2008 and as a member of the Board since April 2004. Elon has also served as Chief Executive Officer, Chief Technology Officer and Chairman of Space Exploration Technologies Corporation, an advanced rocket and spacecraft manufacturing and services company (“SpaceX ”), since May 2002, and served as Chairman of the Board of SolarCity Corporation, a solar installation company, from July 2006 until its acquisition by Tesla in November 2016. Elon is also a founder of The Boring Company, an infrastructure company, and of Neuralink Corp., a company focused on developing brain-machine interfaces. Prior to SpaceX, Elon co-founded PayPal, an electronic payment system, which was acquired by eBay in October 2002, and Zip2 Corporation, a provider of Internet enterprise software and services, which was acquired by Compaq in March 1999. Elon has also served on the board of directors of Endeavor Group Holdings, Inc. since April 2021. Elon holds a B.A. in physics from the University of Pennsylvania and a B.S. in business from the Wharton School of the University of Pennsylvania. | |||
====Chief Financial Officer==== | ====Chief Financial Officer==== | ||
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==== All periods ==== | ==== All periods ==== | ||
{| class="wikitable" | {| class="wikitable" | ||
|+ | |+Historic financials<ref>Source: Stockhub Limited</ref><ref group="Note" name="Note04" /> | ||
|- | |- | ||
!Year | !Year | ||
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!'''17''' | !'''17''' | ||
!18 | !18 | ||
|- | |- | ||
|'''Year end date'''||'''31/12/2005'''||'''31/12/2006<ref name=":12">{{cite web|url=https://www.mercurynews.com/2014/07/14/2006-san-carlos-start-up-tesla-seeks-sexier-electric-car/|title=2006: San Carlos start-up Tesla seeks sexier electric car|date=July 14, 2014}}</ref><ref name="SEC">{{cite web | url=https://www.sec.gov/edgar/browse/?CIK=1318605 | title=Tesla, Inc. TSLA on Nasdaq | publisher=[[U.S. Securities and Exchange Commission]]}}</ref>'''||'''31/12/2007'''||'''31/12/2008'''||'''31/12/2009''' | |'''Year end date'''||'''31/12/2005'''||'''31/12/2006<ref name=":12">{{cite web|url=https://www.mercurynews.com/2014/07/14/2006-san-carlos-start-up-tesla-seeks-sexier-electric-car/|title=2006: San Carlos start-up Tesla seeks sexier electric car|date=July 14, 2014}}</ref><ref name="SEC">{{cite web | url=https://www.sec.gov/edgar/browse/?CIK=1318605 | title=Tesla, Inc. TSLA on Nasdaq | publisher=[[U.S. Securities and Exchange Commission]]}}</ref>'''||'''31/12/2007'''||'''31/12/2008'''||'''31/12/2009''' | ||
|'''31/12/2010<ref name="SEC" />''' | |'''31/12/2010<ref name="SEC" />''' | ||
|'''31/12/2011<ref name="SEC" />''' | |'''31/12/2011<ref name="SEC" />''' | ||
|'''31/12/2012<ref name="SEC" />''' | |'''31/12/2012<ref name="SEC" />''' | ||
|'''31/12/2013<ref name="SEC" />''' | |'''31/12/2013<ref name="SEC" />''' | ||
|'''31/12/2014<ref name="SEC" />''' | |'''31/12/2014<ref name="SEC" />''' | ||
|'''31/12/2015<ref name="SEC" />''' | |'''31/12/2015<ref name="SEC" />''' | ||
|'''31/12/2016<ref name="SEC" />''' | |'''31/12/2016<ref name="SEC" />''' | ||
|'''31/12/2017<ref name="SEC" />''' | |'''31/12/2017<ref name="SEC" />''' | ||
|'''31/12/2018<ref name="SEC" />''' | |'''31/12/2018<ref name="SEC" />''' | ||
|'''31/12/2019<ref name="SEC" />''' | |'''31/12/2019<ref name="SEC" />''' | ||
|'''31/12/2020<ref name="SEC" />''' | |'''31/12/2020<ref name="SEC" />''' | ||
|'''31/12/2021<ref name="SEC" />''' | |'''31/12/2021<ref name="SEC" />''' | ||
|'''31/12/2022''' | |'''31/12/2022''' | ||
| | |- | ||
|''' | | colspan="18" |<div style="text-align: center;">'''Income statement'''</div> | ||
| | | | ||
| | |- | ||
|' | |Revenues ($'million)|| 0||0||0.073||15||112 | ||
| | |117 | ||
| | |204 | ||
| | |413 | ||
| | |2,013 | ||
| | |3,198 | ||
| | |4,046 | ||
| | |7,000 | ||
| | |11,759 | ||
| | |21,461 | ||
| | |24,578 | ||
| | |31,536 | ||
| | |53,823 | ||
| | |81,462 | ||
| | |- | ||
|' | |Net profits ($'million)||style="color: red;" |-12||style="color: red;" |-30||style="color: red;" |-78||style="color: red;" |-83|| style="color: red;" |−56 | ||
| | |style="color: red;" |−154 | ||
| | |style="color: red;" |−254 | ||
| | |style="color: red;" |−396 | ||
| | |style="color: red;" |−74 | ||
| | |style="color: red;" |−294 | ||
| | |style="color: red;" |−889 | ||
| | |style="color: red;" |−675 | ||
| | |style="color: red;" |−1,962 | ||
| | |style="color: red;" |−976 | ||
| | |style="color: red;" |−862 | ||
| | |721 | ||
| | |5,519 | ||
| | |12,556 | ||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
|- | |- | ||
| colspan="18" |<div style="text-align: center;">'''Balance sheet'''</div> | |||
| | | | ||
| | |- | ||
|Total assets<br />($'million) | |||
|8 | |||
|44 | |||
|34 | |||
|52 | |||
|130 | |||
|386 | |||
|713 | |||
|1,114 | |||
|2,417 | |||
|5,831 | |||
|8,068 | |||
|22,664 | |||
|28,655 | |||
|29,740 | |||
|34,309 | |||
|52,148 | |||
|62,131 | |||
|82,338 | |||
|- | |||
| colspan="18" |<div style="text-align: center;">'''Other'''</div> | |||
|' | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
|''' | |||
| | | | ||
|- | |- | ||
| | |Employees | ||
|NA | |||
|70 | |||
|268 | |||
|252 | |||
|514 | |||
|899 | |||
|1,417 | |||
|2,914 | |||
| | |5,859 | ||
| | |10,161 | ||
| | |13,058 | ||
|17,782 | |||
|37,543 | |||
|48,817 | |||
|48,016 | |||
|70,757 | |||
|99,290 | |||
|127,855 | |||
|} | |||
| | === Forward === | ||
| | |||
| | ====What are the financial forecasts?==== | ||
| | {| class="wikitable" | ||
| | |+Forward financials<ref>Source: Stockhub Limited</ref><ref group="Note" name="Note04" /> | ||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
|- | |- | ||
!Year | |||
!18 !!19!!20!!21!!22 | |||
!23 | |||
!24 | |||
!25 | |||
!26 | |||
!27 | |||
!28 | |||
!29 | |||
!30 | |||
!31 | |||
!32 | |||
!33 | |||
!34 | |||
!35 | |||
!36 | |||
!37 | |||
!38 | |||
!39 | |||
!40 | |||
!41 | |||
!42 | |||
!43 | |||
!44 | |||
!45 | |||
!46 | |||
!47 | |||
!48 | |||
!49 | |||
!50 | |||
!51 | |||
!52 | |||
!53 | |||
!54 | |||
!55 | |||
!56 | |||
!57 | |||
!58 | |||
!59 | |||
|- | |- | ||
| | |'''Year end date'''||'''31/12/2022'''||'''31/12/2023'''||'''31/12/2024'''||'''31/12/2025'''||'''31/12/2026''' | ||
| | |'''31/12/2027''' | ||
| | |'''31/12/2028''' | ||
| | |'''31/12/2029''' | ||
| | |'''31/12/2030''' | ||
| | |'''31/12/2031''' | ||
| | |'''31/12/2032''' | ||
| | |'''31/12/2033''' | ||
| | |'''31/12/2034''' | ||
| | |'''31/12/2035''' | ||
| | |'''31/12/2036''' | ||
| | |'''31/12/2037''' | ||
| | |'''31/12/2038''' | ||
| | |'''31/12/2039''' | ||
| | |'''31/12/2040''' | ||
| | |'''31/12/2041''' | ||
| | |'''31/12/2042''' | ||
| | |'''31/12/2043''' | ||
| | |'''31/12/2044''' | ||
|$ | |'''31/12/2045''' | ||
|$ | |'''31/12/2046''' | ||
|$ | |'''31/12/2047''' | ||
|$ | |'''31/12/2048''' | ||
|$ | |'''31/12/2049''' | ||
|$ | |'''31/12/2050''' | ||
|$ | |'''31/12/2051''' | ||
|$ | |'''31/12/2052''' | ||
|$ | |'''31/12/2053''' | ||
|$ | |'''31/12/2054''' | ||
|$ | |'''31/12/2055''' | ||
|$ | |'''31/12/2056''' | ||
|$ | |'''31/12/2057''' | ||
|$ | |'''31/12/2058''' | ||
|$ | |'''31/12/2059''' | ||
|$ | |'''31/12/2060''' | ||
|$ | |'''31/12/2061''' | ||
|$ | |'''31/12/2062''' | ||
|$ | |'''31/12/2063''' | ||
|$ | |- | ||
|$ | | colspan="43" |<div style="text-align: center;">'''Income statement'''</div> | ||
|$ | |- | ||
|$ | |Revenues ($'million)|| $78,935||$112,257||$154,816||$207,049||$268,527 | ||
|$ | |$337,721 | ||
|$ | |$411,894 | ||
|$ | |$487,157 | ||
|$ | |$558,739 | ||
|$ | |$621,448 | ||
|$ | |$670,282 | ||
|$ | |$701,078 | ||
|$ | |$711,102 | ||
|$ | |$699,445 | ||
|$ | |$667,163 | ||
|$ | |$617,116 | ||
|$ | |$553,551 | ||
|$ | |$481,510 | ||
|$ | |$406,171 | ||
|$ | |$332,253 | ||
|$ | |$263,564 | ||
|$ | |$202,749 | ||
|$ | |$151,247 | ||
|$ | |$109,414 | ||
|$76,757 | |||
|$52,217 | |||
|$34,448 | |||
|$22,038 | |||
|$13,673 | |||
|$8,226 | |||
|$4,799 | |||
|$2,715 | |||
|$1,490 | |||
|$793 | |||
|$409 | |||
|$205 | |||
|$99 | |||
|$47 | |||
|$21 | |||
|$9 | |||
|$4 | |||
|$2 | |||
|- | |- | ||
| | |Gross profits ($'million)||$23,680||$33,677||$46,445||$62,115||$80,558 | ||
|$101,316 | |||
|$185,352 | |||
|$219,221 | |||
|$251,432 | |||
|$279,652 | |||
|$301,627 | |||
|$315,485 | |||
|$319,996 | |||
| | |$314,750 | ||
|$300,223 | |||
|$277,702 | |||
|$249,098 | |||
| | |$216,679 | ||
|$ | |$182,777 | ||
|$ | |$149,514 | ||
| | |$118,604 | ||
|$ | |$91,237 | ||
|$ | |$68,061 | ||
|$ | |$49,236 | ||
|$ | |$34,541 | ||
|$ | |$23,498 | ||
|$ | |$15,502 | ||
|$ | |$9,917 | ||
|$ | |$6,153 | ||
|$ | |$3,702 | ||
|$ | |$2,160 | ||
|$ | |$1,222 | ||
|$ | |$670 | ||
|$ | |$357 | ||
|$ | |$184 | ||
|$ | |$92 | ||
|$ | |$45 | ||
|$ | |$21 | ||
|$ | |$10 | ||
|$ | |$4 | ||
|$ | |||
|$ | |||
|$ | |||
|$ | |||
|$ | |||
|$ | |||
|$3, | |||
|$ | |||
|$1, | |||
|$ | |||
|$ | |||
|$ | |||
|$ | |||
|$ | |||
|$ | |||
|$ | |||
|$ | |||
|$2 | |$2 | ||
|$1 | |$1 | ||
|- | |- | ||
| | |Operating profits ($'million)||$11,840||$16,839||$23,222||$31,057||$40,279 | ||
|$50,658 | |||
|$123,568 | |||
| | |$146,147 | ||
| | |$167,622 | ||
| | |$186,434 | ||
| | |$201,085 | ||
| | |$210,323 | ||
| | |$213,331 | ||
| | |$209,834 | ||
| | |$200,149 | ||
| | |$185,135 | ||
| | |$166,065 | ||
| | |$144,453 | ||
| | |$121,851 | ||
| | |$99,676 | ||
| | |$79,069 | ||
| | |$60,825 | ||
| | |$45,374 | ||
| | |$32,824 | ||
| | |$23,027 | ||
|$15,665 | |||
|$10,335 | |||
|$6,612 | |||
|$4,102 | |||
|$2,468 | |||
|$1,440 | |||
|$815 | |||
|$447 | |||
|$238 | |||
|$123 | |||
|$61 | |||
|$30 | |||
|$14 | |||
|$6 | |||
| | |$3 | ||
| | |$1 | ||
| | |$1 | ||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
|- | |- | ||
| | |Net profits ($'million)||$9,354||$13,302||$18,346||$24,535|| $31,820 | ||
| | |$40,020 | ||
| | |$97,619 | ||
| | |$115,456 | ||
| | |$132,421 | ||
| | |$147,283 | ||
| | |$158,857 | ||
| | |$166,156 | ||
| | |$168,531 | ||
| | |$165,769 | ||
| | |$158,118 | ||
| | |$146,256 | ||
| | |$131,192 | ||
| | |$114,118 | ||
| | |$96,263 | ||
| | |$78,744 | ||
| | |$62,465 | ||
| | |$48,052 | ||
| | |$35,846 | ||
| | |$25,931 | ||
| | |$18,191 | ||
|$12,376 | |||
|$8,164 | |||
|$5,223 | |||
|$3,240 | |||
|$1,949 | |||
|$1,137 | |||
|$643 | |||
|$353 | |||
|$188 | |||
|$97 | |||
|$48 | |||
|$24 | |||
|$11 | |||
|$5 | |||
|$2 | |||
|$1 | |||
| | |$0 | ||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
| | |||
|} | |} | ||
=== What are the assumptions used to estimate the financial forecasts? === | ==== What are the assumptions used to estimate the financial forecasts?==== | ||
{| class="wikitable" | {| class="wikitable" | ||
Line 1,316: | Line 1,140: | ||
==Risks== | ==Risks== | ||
As with any investment, investing in Tesla carries a level of risk. | As with any investment, investing in Tesla carries a level of risk. Overall, based on the key risks highlighted below, the degree of risk associated with an investment in Tesla is high. | ||
===Risks related to the ability to grow the business=== | ===Risks related to the ability to grow the business=== | ||
Line 2,673: | Line 2,493: | ||
|Agriculture, Forestry and Land Use | |Agriculture, Forestry and Land Use | ||
|} | |} | ||
== Notes== | == Notes== |