It all started with a dream from a 39-year-old CEO, Elon Musk, co-founder of PayPal. In 2004 he helped Tesla get off the ground with its fully electric vehicle concepts to revolutionize the auto industry. The startup’s audacious business plan had three steps. First, develop a high-end, high-performance sports car to prove that electric vehicles were both cool and feasible. Second, roll out a luxury sedan that would compete with high-end brands like BMW, Lexus and Mercedes. Third, produce hundreds of thousands of low-end electric vehicles for the masses.
In 2008 after many obstacles and roadblocks, Tesla purchased an old Toyota assembly plant and pulled off step one, and released the Tesla Roadster, selling over 1,300 units in the first year. By 2009 they received the government funding needed to start phase two: to challenge the car industry head-on by mass-producing the Tesla Model S, a stylish four-door sedan powered by more than 7,000 lithium-ion batteries. By mid 2009, the Model S prototype was finished. It will still will take some time for the new full-electric, 4-door rocket to be mass produced but its a start.
With over 20,000 Telsas on the road, this company has a lot of potential and is paving the way for others to follow in the all-electric car market.