SMM: on June 29, 2010, Tesla went public on Nasdaq with an IPO price of $17; the company's only electric car at that time, the $109000 Roadster, was on display in Times Square.
Tesla's shares rose to $1009.35 and a market capitalization of $187.104 billion on June 29, 2020, a decade after it went public. In addition to Roadster, Tesla also owns Model S, Model 3, Model X and Model Y models.
In its first decade of listing, Tesla's share price soared 5837% from a Silicon Valley start-up to a company with a market capitalization that surpassed traditional giants such as Toyota, Volkswagen and GM.
There has also been a lot of drama in Tesla over the past decade. Despite many skeptics and difficulties, it has to be said that Tesla's impact on the global auto industry is unprecedented.
Tony Posawatz, former head of GM's plug-in hybrid project, former CEO of Fisker and current director of Lucid, said, "although a lot of dramatic things have happened in Tesla, they are driving the auto industry to make electrification the key to mobile travel in the future. Profitable or not, Tesla does affect the luxury car market. " In addition, consumers are also enthusiastic about Tesla's products.
With regard to the major events that have taken place in Tesla in the past decade, foreign media have made an inventory and the cars of the world have been compiled for reference.
1. Government loan
In January 2010, the U.S. Department of Energy provided Tesla with a $465 million low-interest loan as part of the U. S. advanced technology car manufacturing program. The money was important to Tesla because the United States was still struggling to get rid of the effects of the Great Depression. In May 2013, Tesla paid off all the loans with interest and principal.
2. Fremont factory
In May 2010, Tesla announced that it would buy a closed car plant in Fremont, Calif., previously operated by Toyota and General Motors. In addition, Toyota invested $50 million in the start-up. At present, most of Tesla's cars are still produced at the Fremont plant, but Tesla has a second vehicle assembly plant in Shanghai and is building a third assembly plant near Berlin, Germany.
3. Model S car of the year
In December 2012, Motor Trend named Tesla Model S as the car of the year 2013. This is the first time that a non-internal combustion engine model has won this award. This recognition shows that traditional carmakers believe that electric cars are not only a nerd's scientific project, but also a big boost to the development of the Tesla brand.
4. Battery factory
In September 2014, Tesla announced that it had chosen Nevada as its first battery production base, with Panasonic as its partner. The factory demonstrates Tesla's determination to vertically integrate the supply chain. Tesla is now considering setting up its own battery manufacturing business at the Fremont plant, and investors are hoping to hear more about Battery Day in September.
5. Model 3 debut
When Tesla unveiled its Model 3 sedan in March 2016, customers lined up to buy the sedan, just like the scene of consumers queuing up to buy an iphone. The average transaction price of the Model 3 is close to $50, 000, and although Tesla's promise to make it a mainstream market model has barely been fulfilled, sales of the Model 3 still compete with mainstream cars. The company is currently trying to use Model Y crossovers to break into a growing market segment.
6. Autopilot related accidents
Tesla Model S, driven by Joshua Brown, a former Navy SEAL and loyal client of Tesla, collided with a tractor trailer in Florida on May 7, 2016, killing Brown. Tesla's driving assistance system, Autopilot, was in use at the time of the accident, the first known death involving the technology. Us regulators investigated this, but found no defects.
7. Acquisition of SolarCity
In June 2016, Tesla announced the acquisition of SolarCity, a solar panel installer co-founded by Musk and his brothers. At the time, SolarCity was in financial trouble, but Mr Musk described the acquisition as something "not to be considered" and announced the launch of a new roofing product.
8. Delisting storm
In 2018, Tesla worked hard to expand the production scale of Model 3 and built an assembly line under huge outdoor tents to increase production. Also in 2018, dozens of executives left Tesla; in July, Musk tweeted a British diver as a "pedophile", leading to a libel lawsuit; in August, Musk announced on Twitter that Tesla would be delisted at $420 a share and said it had "received funding." soon after, Musk retracted his claim that Tesla would continue to list. A month later, the Securities and Exchange Commission filed a lawsuit against Musk on suspicion of securities fraud; the two sides reached a settlement agreement.
Tesla won a major victory in 2018 when it became the first US carmaker to build a factory in China without a local partner. Tesla's plant near Shanghai began delivering its first cars on January 7, a year after construction.
10. Cybertruck makes its debut.
In November 2019, Musk launched the Cybertruck electric pickup truck. At the press conference, Franz von Holzhausen, Tesla's design director, accidentally smashed the window with a metal ball. According to the latest report from Wade Bush Securities (Wedbush Securities), the number of Cybertruck bookings has exceeded 650000. Currently, Tesla plans to build a new plant in the United States to produce Cybertruck, possibly in Texas or Oklahoma.
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