Tesla makes electric cars and batteries that store power for homes and utilities, and it develops self-driving software and humanoid robots. In 2023, its Model Y became the first electric vehicle to rank as the world's best-selling car. Buyers order the Model 3 sedan, Model Y SUV, or Cybertruck pickup directly from Tesla instead of through dealers, and they charge on its Supercharger fast-charging network. It also sells Megapack and Powerwall batteries, runs a robotaxi service, and charges drivers a monthly fee for self-driving software that still needs their supervision. Tesla was founded in 2003, with Elon Musk as its lead early investor and a recognized co-founder, and it is based in Austin, Texas.
Company Size
10,001+
Company Stage
IPO
Headquarters
Austin, Texas
Founded
2003
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Tesla has unveiled a second-generation Roadster that can hop off the ground and spin in the air, chief executive officer Elon Musk said on Thursday. The prototype goes from standing to 60 mph in 0.8 seconds, Tesla claims, and the production model will be quicker. Whether the two-door electric sports car will be street legal is unclear. Musk said, "I'm not sure it's necessarily legal in all jurisdictions." The car may matter more as a signal than a product. It presents Tesla as a company that builds what others cannot, a message aimed at Wall Street and at engineers Tesla wants to hire. Musk has long used product reveals to recruit. Before Tesla's 2021 AI Day, he posted that "convincing the best AI talent to join Tesla is the sole goal.
Tesla and chief executive officer Elon Musk unveiled the Roadster 2, billed as the company's last human-driven car, at SpaceX's testing facility in McGregor, Texas, on Thursday night. In a demonstration, the car flew into the air and floated several feet over Tesla's electric semi-truck. Executives said it can accelerate from 0 to 60 mph in 1 second. Four thrusters enable the "flying" technology, according to vehicle engineering head Lars Moravy. Tesla first announced the car in 2017 and initially promised shipments in 2020. Musk now says production will start in 2028. Enthusiasts paid $50,000 deposits for what was advertised as a $200,000 car. Musk has said Tesla should no longer be seen as a carmaker, as it focuses on autonomous vehicles and robots.
Tesla has revealed its redesigned second-generation Roadster, which uses SpaceX thrusters. Chief executive officer Elon Musk showed the car at an event outside Waco, Texas, where it used fans and thrusters to drive up an inverted ramp, spin, and land softly. It also lifted itself over a Cybercab, Cybertruck, Tesla Semi, Model Y, and Model 3. Tesla showed the car going 0-60 miles per hour in one second. Musk called it "the best of the last of the human-driven cars" and said it is unlikely to move revenue much. Tesla first revealed the car almost nine years ago and took $50,000 deposits. Some buyers paid $250,000 for one of 1,000 "Founders Series" versions. Musk delayed the car in 2020, 2021, 2023, and 2024.
Tesla unveiled its next-generation Roadster at a livestreamed event on Thursday, giving customers who have waited years their first fresh look at the electric vehicle maker's new halo car. In a demonstration, the car drove up a large curved ramp until it was upside down. It then flew off, flipped, and landed safely, apparently aided by thrusters under the vehicle. "Well, it worked," chief executive officer Elon Musk said. "Flying cars are real." Musk first revealed a second-generation Roadster in November 2017. Tesla then promised a 1.9-second zero-to-60-mph time, a top speed above 250 mph, and more than 600 miles of range. Customers could reserve one with a $50,000 deposit, or pay $250,000 upfront for a Founders Series model. Musk said the latest car resulted from collaboration between Tesla and SpaceX engineers.
Tesla will report third-quarter results after the market closes on October 21, with a live webcast at 17:30 EDT. The company said it delivered 486,532 vehicles in the quarter, up about 1% from the second quarter. One open question is how much Tesla earns per paid Robotaxi mile after running costs. The company has not said, though Robotaxi has passed 1 million unsupervised miles and runs in seven major metro areas. Shares trade around $367, about 25% below their December 2025 record close of $489.88. At expected 2027 earnings, the price-to-earnings ratio is about 165. Spending is climbing. Second-quarter capital expenditure was about $5.8 billion, up 142% year over year, and free cash flow was negative $1.1 billion.