Elon Musk-Tesla -REVIEWS

Tesla began shipping its third vehicle, the luxury SUV Tesla Model X, in September 2015, which had 25,000 pre-orders at the time. SolarCity and Model 3 (2016–2018) Tesla entered the solar installation business in November 2016 with the purchase of SolarCity, in an all-stock $2.6 billion deal.

The business was merged with Tesla's existing battery energy storage products division to form the Tesla Energy subsidiary.

The deal was controversial because at the time of the acquisition, SolarCity was facing liquidity issues of which Tesla's shareholders were not informed.

In February 2017, Tesla Motors changed its name to Tesla, Inc. to better reflect the scope of its expanded business. Tesla unveiled its first mass market vehicle in April 2016, the Model 3 sedan.

Compared to Tesla's previous luxury vehicles, the Model 3 was less expensive and within a week the company received over 325,000 paid reservations.

In an effort to speed up production and control costs, Tesla invested heavily in robotics and automation to assemble the Model 3. Instead, the robotics actually slowed the production of the vehicles,

leading to significant delays and production problems, a period which the company would later come to describe as "production hell."

By the end of 2018, the production problems had been overcome, and the Model 3 would become the world's bestselling electric car from 2018 to 2021. This period of production hell put significant financial pressure on Tesla, and during this time it became one of the most shorted companies in the market.

On August 8, 2018, amid the financial issues,

Musk posted on social media that he was considering taking Tesla private.

The plan did not materialize and gave rise to much controversy and many lawsuits including a securities fraud charge from the SEC, which would force Musk to step down as the company's chairman, although he was allowed to remain CEO. Global expansion and Model Y (2019–present) From July 2019 to June 2020, Tesla reported four consecutive profitable quarters for the first time, which made it eligible for inclusion in the S&P 500.

Tesla was added to the index on December 21, 2020.

It was the most valuable company ever added,

and was the sixth-largest member of the index immediately after it was added.

During 2020, the share price increased 740%, and on January 26, 2021, its market capitalization reached $848 billion, more than the next nine largest automakers combined and becoming the fifth most valuable company in the US. Tesla introduced its second mass-market vehicle in March 2019, the Model Y mid-size crossover SUV, based on the Model 3. Deliveries started in March 2020. During this period, Tesla invested heavily in expanding its production capacity, opening three new Gigafactories

in quick succession.

================================================================================================== Construction of Gigafactory Shanghai started in January 2019, as the first automobile factory in China fully owned by a foreign company (not a joint venture).

The first production vehicle, a Model 3, rolled out of the factory in December, less than one year after groundbreaking. Gigafactory Berlin-Brandenburg broke ground in February 2020,

================================================================================================= and production of the Model Y began in March 2022. Gigafactory Texas broke ground in June 2020, production of the Model Y began in April 2022, and production of the Cybertruck began in November 2023.

In March 2023, Tesla announced plans for a Gigafactory Mexico to open in 2025.