Tesla, Inc. (TSLA)

Sector: Consumer Discretionary|Industry: Auto Manufacturers|Market Cap: $1.13T|Employees: 140.5K


Tesla designs, develops, manufactures, sells, and leases high-performance electric vehicles, along with energy generation and storage systems. Tesla sells its products directly to consumers through a network of showrooms, service centers, and charging stations, and emphasizes performance, safety, and technological innovation, including autonomous driving capabilities.

  1. Filings
  2. Company Profile

Business Summary

Tesla, Inc. designs, develops, manufactures, sells, and leases high-performance fully electric vehicles and energy generation and storage systems, offering related services. The company sells directly to consumers through a global network of showrooms, service centers, and charging stations. They emphasize performance, styling, and safety, developing full self-driving technology. Tesla aims to lower ownership costs through reduced manufacturing and tailored financial services. Their mission is to accelerate the world's transition to sustainable energy, differentiating themselves through engineering, vertical integration, and user focus.

Key Statistics

  • Employees: 140,473 (as of December 31, 2023)
  • Geographic Footprint: North America, Europe, Asia
  • Headquarters: Austin, Texas
  • Founded: 2003
  • Number of locations/facilities: Multiple manufacturing facilities and a global network of showrooms, service centers, and charging stations.
  • Revenue: $96.77 billion (FY2023)
  • Market Cap: $722.52 Billion (As of June 30, 2023)
  • Key Subsidiaries/Brands: Tesla

Leadership

  • CEO: Elon Musk (Also CEO and CTO of SpaceX, Chairman and CTO of X Corp.)
  • CFO: Vaibhav Taneja
  • Board Chair: Robyn Denholm
  • Other Key Executives: Ira Ehrenpreis, Joseph Gebbia, James Murdoch, Kimbal Musk, JB Straubel, Kathleen Wilson-Thompson

Key Financial Metrics

  • Annual Revenue: $96.77 billion (FY2023)
  • Net Income: $15.00 billion (FY2023)
  • Market Cap: $722.52 billion (as of June 30, 2023)
  • Total Assets: $106.62 billion (FY2023)
  • Number of employees: 140,473 (as of December 31, 2023)
  • Key Financial Highlights: Revenue increased $15.31 billion (19%) YoY. Net income increased $2.44 billion YoY, including a one-time non-cash tax benefit of $5.93 billion. Cash and cash equivalents increased $6.91 billion YoY.

Products and Services

Tesla offers high-performance fully electric vehicles, energy generation and storage systems, and related services.

  • Electric Vehicles: Model 3, Model Y, Model S, Model X, Cybertruck, Tesla Semi, Roadster (under development), Next Generation Platform (under development)
  • Energy Generation and Storage: Powerwall, Megapack, Solar Roof, retrofit solar energy systems
  • Services: Maintenance, installation, operation, charging, insurance, financing, and software features like Autopilot and Full Self-Driving (FSD) capability.

Key Business Segments

Tesla operates in two segments:

  • Automotive: Design, development, manufacturing, sales, and leasing of electric vehicles, sales of regulatory credits, and related services (used vehicles, after-sales service, parts, paid Supercharging, insurance, retail merchandise). (FY2023 Revenue: $90.74 billion)
  • Energy Generation and Storage: Design, manufacture, installation, sales, and leasing of solar energy generation and storage products, related services, and sales of solar energy systems incentives. (FY2023 Revenue: $6.04 billion)

Business Strategy

Tesla's core strategy is to accelerate the world's transition to sustainable energy. They plan to achieve this by:

  • Increasing vehicle production capacity and deliveries.
  • Reducing costs and improving battery technology.
  • Vertically integrating and localizing the supply chain.
  • Improving and deploying Full Self-Driving (FSD) capabilities.
  • Expanding global infrastructure, including service and charging networks.
  • Bringing new products to market, including the Cybertruck and next-generation platform.
  • Developing AI, robotics, and automation technologies.

Industry Context

Tesla operates in the highly competitive automotive and energy industries. Key trends impacting the business include:

  • Growing demand for electric vehicles and energy storage solutions.
  • Increasing competition from established and new automakers in the electric vehicle market.
  • Evolving regulations related to self-driving vehicles and emissions standards.
  • Fluctuations in raw material prices, particularly for battery components.
  • Development of charging infrastructure and standards, including the adoption of NACS.

Risk Factors

Tesla identifies several key risk factors in its 10-K filing, including:

  • Potential delays in launching and ramping production of new products and features, impacting manufacturing costs.
  • Supply chain disruptions and potential component shortages due to various factors.
  • Dependence on the demand for electric vehicles and the company's ability to compete in a volatile and cyclical automotive market.

Last Updated

2024-01-26

(Generated from latest 10-K filing)