Profile: Tesla Inc (TSLA.OQ)
Tesla, Inc., formerly Tesla Motors, Inc., incorporated on July 1, 2003, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: automotive, and energy generation and storage. The automotive segment includes the design, development, manufacturing, and sales of electric vehicles. The energy generation and storage segment includes the design, manufacture, installation, and sale or lease of stationary energy storage products and solar energy systems to residential and commercial customers, or sale of electricity generated by its solar energy systems to customers.
As of December 31, 2016, the Company produced and sold two fully electric vehicles, the Model S sedan and the Model X sport utility vehicle (SUV). It also offers Model 3, a sedan designed for the mass market. The Company sells vehicles through its own sales and service network. It offers energy storage products, which includes the 14-kilowatt hour (kWh) Powerwall 2 with an integrated inverter for residential applications and the 200 kWh Powerpack 2. It also offers bi-directional inverter for commercial, industrial and utility applications. Model S is a fully electric, four-door, five-adult passenger sedan that offers compelling range and performance with zero tailpipe emissions. It offers performance and all-wheel drive dual motor system options. Model S also includes luxury features, including a 17-inch touch screen driver interface, its autopilot hardware to enable both active safety and convenience features, and over-the-air software updates. Model X is an all-electric production sport utility vehicle, and offers functionality with features, such as its fully electric, all-wheel drive dual motor system and its autopilot system. Model X can seat up to seven adults and incorporates a falcon wing door system for access to the second and third seating rows.
The Company develops energy storage products for use in homes, commercial facilities and utility sites. The applications for these battery systems include the provision of backup power, grid independence, peak demand reduction, demand response, reducing intermittency of renewable generation and wholesale electric market services. The Company's energy product portfolio includes systems with a range of applications, from use in homes to use in large grid-scale projects. Powerwall 2 is a 14 kWh rechargeable lithium-ion battery designed to store energy at a home or small commercial facility and can be used for self-consumption of solar power generation and as backup power. In addition, it offers a 200 kWh Powerpack system, which can be used by commercial and industrial customers for peak shaving, load shifting, self-consumption of solar generation and demand response. The Powerpack system is a fully integrated energy storage solution that can be used by utilities to smooth and firm the output of renewable power generation sources, provide energy capacity to the grid, defer or eliminate the need to upgrade transmission infrastructure and also provide for a range of grid services for utilities. For grid-scale applications, 200 kWh battery blocks can be grouped together to offer megawatt hours and gigawatt hours installations.
The Company's components of its solar energy systems include solar panels that convert sunlight into electrical current, inverters that convert the electrical output from the panels to a usable compatible with the electric grid, racking that attaches the solar panels to the roof or ground, electrical hardware that connects the solar energy system to the electric grid and its monitoring device. It also designs and manufactures other system components. The Company offers loans and leases for its vehicles in North America, Europe and Asia primarily through various financial institutions. It also offers financing arrangements directly through its local subsidiaries in certain areas of the United States, Germany, Canada and the United Kingdom.
The Company competes with Audi, BMW, Lexus, Mercedes, Honda, Toyota, Daimler, Nissan, Fiat, Ford, General Motors, Mitsubishi, AES Energy Storage, LG Chem, Samsung, Vivint Solar Inc., Sunrun Inc., Trinity Solar and Sungevity, Inc.
3500 Deer Creek Rd
PALO ALTO CA 94304-1317
Company Web Links
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- CORRECTED-Tesla largely responsible for slide in U.S. home solar sales
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