jenniferpham17-blog

[jenniferpham17-blog]

Tesla Inc. is a American electric vehicle and clean energy company. Tesla is a unique automaker that only manufactures all-electric vehicles. They produce battery energy storage from home to grid scale. They obtained SolarCity a solar panel and solar roofing tile manufacturing Company. Formerly named Tesla Motors was founded on July 1, 2003 in San Carlos California by Elon Musk, JB Straubel, Martin Eberhard, Marc Tarpenning, Ian Wright. Tesla's headquarters is located in Palo Alto, California. 

Tesla's latest mission statement was quoted on November 28, 2018 by Elon Musk CEO, Chairman & Product Architect. Stating “Our goal when we created Tesla a decade ago was the same as it is today: to accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible.” A key to Tesla success is its Founder and CEO Elon Musk who owns the biggest share of his  Tesla Inc. at 21%. He is an entrepreneur/businessman that founded several other companies like Paypal and SpaceX. For the first time in history Tesla inc, has surpassed Ford and General Motors the two largest US automakers as the most valuable American automaker. As of January of 2020 Tesla Inc. is worth an estimated 103 billion dollars. Tesla has a market cap of 133.5 billion and a market share of $725.00 dollars as of April 27, 2020. Tesla made people rethink about environment friendly cars that can be eye catching, popular, cost effective, and luxurious all together.  Tesla’s brand is known for several reasons : technological advances, fast acceleration speed, luxury style, safety features, no emissions, vehicle updates and unique features. Autopilot started providing semi-autonomous driver assist. Tesla allocates its finances to support its business by spending on what's needed to sell its cars. Tesla, like Lamborghini another major automaker, spends zero dollars on advertising. They believe if they make a good high-end quality product that will sell itself. Their strategy is to impress their consumers so that their consumers can spread the message by word of mouth, on their social media platforms, etc. Tesla found a way to make its consumers its marketing and advertising team. Their old fashioned market strategies essentially give them free advertisement. You will not find a Tesla vehicle at a dealership because they don't have any, instead they have showrooms around the world most commonly in malls. Having dealerships and waiting for cars to be sold will cost more than selling directly to consumers. The company saves by not having any commercial real estate for  dealership , staffing , maintenance property, etc. They cut out the middleman and dealership fees to connect directly to their customers building a stronger consumer relationship. Tesla is the first automaker that sells cars directly to consumers. To purchase a Tesla consumer would have to go to one of the Tesla showrooms or order their vehicle online at Tesla.com. Tesla has a steady cash flow because of this strategy  product purchased online and are often pre-ordered. Consumers pay for the vehicle to reserve its spot in inventory or in the production line. They essentially have a pay to order strategy that differentiates them to their competitors. They figured that having vehicles waiting to be sold at a regular dealership or partner dealership will depreciate its value and increase unsold inventory. From having this control they are able to obtain all their data from their vehicles and websites. To better understand their consumers and what they want from their vehicle.                 

Tesla has a car service location around the world to maintain and repair buyers vehicles.  Its vehicles all tend to have futuristic style and technology advances not seen in other automakers.

Tesla doesn't have third party repair shops or sell parts directly to consumers. Because of its high tech vehicle and complicated computer system. Tesla consumers have to go to one of its car servicing centers because third party auto repair don’t have any tools or coding to fix or maintain a Tesla vehicle. Its vehicles are charged with Tesla Supercharger that are installed all around the world and it's absolutely free of charge. It also comes with an adapter so if the consumer can’t get to a charging station they can charge it at home. Tesla's vision statement is “to create the most compelling car company of the 21st century by driving the world's transition to electric vehicles.” This corporate vision emphasizes the company's focus on renewable energy. 

The Model S is a five-door liftback sedan. The Model 3 is a four-door sedan, and is Tesla's third-generation car with the most economical costing around $35,000 dollars. The Model X is a mid-size crossover SUV with a lightweight aluminum body. The Model Y car will have up to three rows of seats up to 7 people. The Roadster is under the  supercar category it  achieves 0–60 mph in 1.9 seconds; it also will achieve 0–100 mph in 4.2 seconds costing $200,000 - $300,000 dollars. The Tesla Semi is an all-electric Class 8 semi-trailer truck.

The Cybertruck was unveiled on November 21, 2019, Five days after the reveal, Cybertruck had more than 250,000 preorders.

Its vehicle names indirect indication the world Sexy : Model S  Model 3  Model X  Tesla Y  

Fun Fact : Tesla wanted to name Model 3 Model E but Ford motors  already obtained the name so Tesla went with model 3 instead. Tesla being an all electric automaker with silicon valley's modern tech. Applicants can’t go to regular auto mechanic school and then work for Tesla. Tesla has an educational program called START it stands for Student Automotive Technician Program. They partner up with 8 colleges around the US to provide automotive technician curriculums as a 12-week capstone providing students with a smooth transition from college to full-time employment.  Tesla employs over 48,016 workers as of 2019. Service Technician at Tesla Motors earns an average of $66,274, ranging from $61,411 at the 25th percentile to $70,740 at the 75th percentile, with top earners (the top 10%) earning more than $75,389. Compensation is derived from 85 profiles, including base salary, equity and bonus. Service technicians get paid well above traditional auto mechanic salary which is $41,000 dollars yearly.

Reference 

Routley, N. (2020, January 24). Tesla's Valuation Surpasses Ford and GM Combined. Retrieved from https://www.visualcapitalist.com/teslas-valuation-surpasses-ford-and-gm-combined/

Electric Cars, Solar Panels & Clean Energy Storage: Tesla. (n.d.). Retrieved from https://www.tesla.com/

Tesla Motors Service Technician Salaries. (n.d.). Retrieved from https://www.paysa.com/salaries/tesla-motors--service-technician