When you hear the word “Tesla,” the first person you think of is tech billionaire Elon Musk. Although he owns the company now, it was not founded by him.
Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning. They named the company after the renowned physicist and inventor Nikola Tesla, and its main vision was to create entirely electric cars of the future.
A year later, Elon Musk became the board’s lead investor and chairman.
The first Tesla, known as the “Roadster,” was released in 2007, which functioned on a lithium-ion battery and cost more than $100,000.
In 2008, Elon Musk was named CEO of Tesla, and during that period, the company also released its second car, known as the “Module S,” which had a starting price of $60,000.
Tesla began collaborating with other car production giants such as Toyota and Sudan and gained 230 million dollars in its IPO when the company went public.
After Tesla went public, it decided to reduce the cost of its cars, seeing that a lot of the complaints about why the general public was not getting the cars were primarily because of the price, so in 2019 it released its Model 3 car that was only worth $37,000, and by the end of 2020, over 800,000 Model 3 cars were sold.
Although it is still not as affordable as a typical gasoline-powered vehicle, the price of this electric car is high for a variety of reasons.
A Tesla car is relatively expensive to manufacture. Unlike standard cars, which are mass-produced in factories using mastered technologies, Tesla cars are designed with a constantly evolving green concept using fast-changing technology, and only a small number of companies can create that concept.
Another reason Tesla cars are expensive is the lithium-ion batteries used to run them. Because of their high energy density, low self-recharge, and the green ions that comprise the battery, lithium-ion batteries are regarded as one of the best rechargeable batteries.
One of the downsides to this battery’s amazing features is that these batteries are not easy to manufacture, making them quite expensive.
Over the years, Tesla cars have been hard to reduce in price because of the high demand for the cars. Even used Tesla cars don’t really drop in price, making them difficult to afford.
What do you think about Tesla cars? Do you think they are worth the hype?
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Image Source – Tesla
