Tesla, Inc., formerly known as Tesla Motors, has grown since its IPO a decade ago into one of the world's biggest producers of electric vehicles under the leadership of CEO Elon Musk. The company sells cars, SUVs, and trucks. In addition to electric vehicles, it has expanded into energy generation and storage systems. Tesla joined the S&P 500 and S&P 100 on December 21, 2020. Tesla is listed on the Nasdaq exchange under the ticker symbol, TSLA.
The company's automotive segment accounts for the vast majority of revenue at the Palo Alto-headquartered company, and the U.S. accounts for just under half of sales. Tesla faces growing competition from other major automakers who are developing and marketing electric vehicles, including General Motors Co. (GM), China-based Nio Inc. (NIO), Volkswagen AG (VOW3), and Daimler AG (DAI), the latter two of which are headquartered in Germany.
More on Tesla (TSLA)
Tesla's Latest Developments
- On January 27, 2021, Tesla reported Q4 FY 2020 adjusted EPS that missed analysts' expectations by a wide margin. But it was nearly double the figure posted in the year-ago quarter and marked the sixth consecutive quarter of profits. Revenue beat analysts' forecasts by a narrow margin. Tesla's vehicle deliveries for the quarter, which it reported earlier in the month, rose at a robust pace. Tesla noted that its results were positively impacted by volume growth and regulatory credit revenue growth, but that price reductions on certain car models offset some of that positive impact.