Changes for page Tesla, Inc.

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  = Summary =
--* Tesla Motors design, develop, manufacture, sell and lease fully electric vehicles, also operates in energy generation and storage system.
++* Tesla, Inc design, develop, manufacture, sell and lease fully electric vehicles, also operates in energy generation and storage system.
  * Automotive revenue reported in the fourth quarter of 2022 is $21,307 million, up 33% from the same quarter a year earlier. Total revenue is $24,318 million, an increase of 37% YoY. Total gross profit of the company during the quarter is $5,777 million, up from $4,847 million from the same quarter a year earlier. Net income for the quarter is $3,687 million, up 59% from $2,321 million YoY.
  * In 2022, the company has reported $71,462 million in total annual automotive revenue, up from $47,232 million a year earlier.  Gross profit reported for the year 2022 is $20,853 million, as compared to $13,606 million a year earlier.
  * The company reported net income for the year 2022 of $12,587 million, as compared to $5,644 million. Earning per share (EPS) for 2022 is $4.02 as compared to $1.87 a year earlier.
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  = Brief Company Overview =
--Tesla, Inc. (NASDAQ: TSLA) is an American artificial intelligence company that designs, develops, manufactures, sells, and leases high-performance fully electric vehicles and energy generation and storage systems. The company was established in 2003 by Martin Eberhard and Marc Tarpenning. Initially, the company was named Tesla Motors - named after Nikola Tesla, the the Serbian American inventor. Tesla, Inc. was incorporated in 2003 and is headquartered in Austin, Texas.
++Tesla, Inc. (NASDAQ: TSLA) is an American artificial intelligence company that designs, develops, manufactures, sells, and leases high-performance fully electric vehicles and energy generation and storage systems. The company was established in 2003 by Martin Eberhard and Marc Tarpenning. Initially, the company was named Tesla Motors (now Tesla, Inc) - named after Nikola Tesla, the the Serbian American inventor. Tesla, Inc. was incorporated in 2003 and is headquartered in Austin, Texas.
  Tesla, Inc. has two reportable segments - automotive, and energy generation and storage. The automotive segment deals with fully electric vehicles including post-sale services and the energy generation storage segment deals with solar energy generation and related services. The company currently produces four models of consumer vehicles - Model 3, Model Y, Model S, and Model X. The energy generation segment sells Powerwall, Megapack, and Solar Roof. As on December 31, 2022, the company and its subsidiaries employed 127,855 employees, a 29,000 year over year increase. The company has four car assembling factories: Austin, Texas and Fremont, California in the United States, Shanghai in China and Berlin in Germany. The first two mainly serve the North American market and have combined production capacities of 900,000 vehicles per year.{{footnote}} https://www.thestreet.com/technology/teslas-new-factory-location-revealed#{{/footnote}}
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  = Company History =
--Tesla Motors was established in 2003 and subsequently renamed to Tesla, Inc. in 2017. The initial purpose of the company was to develop electric sports car. The company was established by two entrepreneurs Martin Eberhard and Marc Tarpenning. Name of the company comes from the Serbian American inventor Nikola Tesla (1856-1943) who discovered and patented the rotating magnetic field, the basis of most alternating-current machinery. Eberhard was Tesla's chief executive officer (CEO) and Tarpenning was the chief financial officer (CFO) of the company. Funding for Tesla Motors came from a variety of sources including $30 million from the PayPal cofounder Elon Musk, who served as the chairman of the company beginning in 2004.
++Tesla Motors was established in 2003 and subsequently renamed Tesla, Inc. in 2017. The initial purpose of the company was to develop electric sports car. The company was established by two entrepreneurs Martin Eberhard and Marc Tarpenning. Name of the company comes from the Serbian American inventor Nikola Tesla (1856-1943) who discovered and patented the rotating magnetic field, the basis of most alternating-current machinery. Eberhard was Tesla's chief executive officer (CEO) and Tarpenning was the chief financial officer (CFO) of the company. Funding for Tesla, Inc came from a variety of sources including $30 million from the PayPal cofounder Elon Musk, who served as the chairman of the company beginning in 2004.
--In 2008 Tesla Motors released its first car, the completely electric Roadster. In company tests, it achieved 245 miles (394 km) on a single charge, a range unprecedented for a production electric car. Additional tests showed that its performance was comparable to that of many gasoline-powered sports cars: the Roadster could accelerate from 0 to 60 miles (96 km) per hour in less than four seconds and could reach a top speed of 125 miles (200 km) per hour. The lightweight car body was made of carbon fibre. The Roadster produced no tailpipe emissions, as it did not use an internal-combustion engine. Tesla Motors found that the car attained efficiency ratings that were equivalent to a gasoline mileage of 135 miles per gallon (57 km per litre). The vehicle’s electric motor was powered by lithium-ion cells.^^[[4>>url:https://finpedia.co/bin/Tesla%2C%20Inc./#x_footnote_4]]^^ Despite a federal tax credit of $7,500 for purchasing an electric vehicle, the Roadster’s cost of $109,000 made it a luxury item.
++In 2008 Tesla, Inc released its first car, the completely electric Roadster. In company tests, it achieved 245 miles (394 km) on a single charge, a range unprecedented for a production electric car. Additional tests showed that its performance was comparable to that of many gasoline-powered sports cars: the Roadster could accelerate from 0 to 60 miles (96 km) per hour in less than four seconds and could reach a top speed of 125 miles (200 km) per hour. The lightweight car body was made of carbon fibre. The Roadster produced no tailpipe emissions, as it did not use an internal-combustion engine. Tesla Motors found that the car attained efficiency ratings that were equivalent to a gasoline mileage of 135 miles per gallon (57 km per litre). The vehicle’s electric motor was powered by lithium-ion cells.^^[[4>>url:https://finpedia.co/bin/Tesla%2C%20Inc./#x_footnote_4]]^^ Despite a federal tax credit of $7,500 for purchasing an electric vehicle, the Roadster’s cost of $109,000 made it a luxury item.
  In late 2007 Eberhard resigned as CEO and president of technology and joined the advisory board of the company. It was announced in 2008 that he had left the company, though he remained a shareholder. Tarpenning, who was vice president of electrical engineering, supervising the development of electronic and software systems for the Roadster, also left the company in 2008. Musk took over as CEO. In 2010 Tesla’s initial public offering raised some $226 million.
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  Because of demand for a more inexpensive vehicle, the Model 3, a four-door sedan with a range of up to 353 miles (568 km) and a price of $35,000, began production in 2017. The car had an all-glass roof, and most controls were on a 15-inch (38-cm) central touchscreen. The Model 3 became Tesla’s best-selling model and the best-selling electric car of all time, surpassing the Nissan Leaf.
--Tesla Motors acquired the solar panel company SolarCity in 2016. Before that the company branched out into solar energy products in 2015. In 2017 the company changed its name to Tesla, Inc., to reflect that it no longer sold just cars.
++Tesla, Inc acquired the solar panel company SolarCity in 2016. Before that the company branched out into solar energy products in 2015. In 2017 the company changed its name to Tesla, Inc., to reflect that it no longer sold just cars.
  On August 7,2018, Tesla chairman and CEO Elon Musk tweeted to declare than he has arranged private funding and he is willing to take the company private, which he has confirmed in a subsequent tweet. Musk proposed a price of $420 for each share of Tesla which would amount to a $70 billion deal. In effect, the price of Tesla stock jumped by over 6% on August 7, 2018 and trade of Tesla stock was suspended at NASDAQ.^^[[5>>url:https://finpedia.co/bin/Tesla%2C%20Inc./#x_footnote_5]]^^ But SEC brought complaints against Elon Musk for this move of his. The SEC’s complaint alleged that, in truth, Musk knew that the potential transaction was uncertain and subject to numerous contingencies.  Musk had not discussed specific deal terms, including price, with any potential financing partners, and his statements about the possible transaction lacked an adequate basis in fact.{{footnote}} https://www.sec.gov/news/press-release/2018-226{{/footnote}} SEC also complaint that despite notifying the market in 2013 that it intended to use Musk’s Twitter account as a means of announcing material information about Tesla and encouraging investors to review Musk’s tweets, Tesla had no disclosure controls or procedures in place to determine whether Musk’s tweets contained information required to be disclosed in Tesla’s SEC filings.  Nor did it have sufficient processes in place to that Musk’s tweets were accurate or complete. However, later on, Musk and Tesla had agreed to settle the charges against them without admitting or denying the SEC's allegations. The settlements required replacement of Elon Musk as chairman of the board of the company and his ineligibility for three years to be re-elected as chairman. However, Musk continued serving as the CEO. A new committee will be established to oversee Musk's communications. And Musk and Tesla each will pay separately $20 million in penalty - the $40 million is to distributed among the harmed investors.