Tesla and its Entry into Fortune 500

Tesla a company founded only 14 years ago back in 2003, entered the respected Fortune 500 list by Fortune magazine on the back of a revenue of US$7Bn. It now holds the 383rd position in the list. This is a great news not only for the company but also entrepreneurs as it proves again that even newcomers can do great in businesses where traditionally only big companies have done well in the recent years.

About Tesla

Tesla founded in 2003 is an electric car and energy company with Elon Musk among its co-founders. From the very start, the company was very ambitious and audacious about its goals and these qualities were very well needed for the company to do what it did. Tesla revolutionized the way we think of electric cars from short range and dull to long range and good looking vehicles.

The vehicles manufactured by Tesla not only have sporty and sexy look but also have ample of spaces as well as very good range on a single charge of well above 300 km in all its models whereas before the advent of Tesla, most of the electric cars were like, tiny cubicles with very little spaces and short range.

Tesla Model 3

Tesla Model 3 credit: Tesla

Vehicles by Tesla

Tesla Roadster was the first vehicle to be launched by the company, which served as a technology demonstrator that electric vehicles can be decent looking, have good speed and acceleration and a very good range at the same time. It has a range of above 320 km which was much more than any other electric car present at the time of its launch. Model S and Model X were next in the line which was more practical than the Tesla Roadster and could be used as everyday vehicles. These vehicles proved to be quite helpful as these could be purchased not just by collectors or sports enthusiasts but by anybody. Tesla sold them in good numbers which increased their customer base significantly but due to their cost, these cars could not become mass market cars.

Model 3 was their next iteration in the electric car series which solved the cost equation significantly making the model in the reach of a much larger audience. Currently, Model 3 is available only for booking. People who want to reserve the car can do so by depositing US$1000.

Tesla is unique because it is more of a silicon valley technology company than a traditional automobile company. It focuses on innovation and has come up with some unique concepts like sending OTA(over the air) updates for its vehicles. Check out our article on Model 3. Take a look at the Autopilot – Summon feature.

Note: Fortune 500 is the list of biggest companies based on their revenues published annually by Fortune magazine.

Aftab Alam

Editor at Verit Nation.

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6 Responses

  1. June 20, 2017

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  2. July 5, 2017

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  5. August 3, 2017

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  6. December 24, 2017

    […] has been a good year for Tesla, with revenues soaring to US$7 billion which helped propel it into the Fortune 500, for the first time in 2017. Its newest car, Model 3 with reservations above 400,000 will only […]