In February 2004, via a $6.5 million investment, Elon Musk became the company's largest shareholder. The company's name is a tribute to inventor and electrical engineer Nikola Tesla. Tesla was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors. Tesla Energy is one of the largest global suppliers of battery energy storage systems, with 6.5 gigawatt-hours installed in 2022. Its subsidiary Tesla Energy develops and is a major installer of photovoltaic systems in the United States. In 2022, the company led the battery electric vehicle market, with 18% share. Tesla is one of the world's most valuable companies and, as of 2023, was the world's most valuable automaker. Tesla designs and manufactures electric vehicles, stationary battery energy storage devices from home to grid-scale, solar panels and solar roof tiles, and related products and services. is an American multinational automotive and energy company headquartered in Austin, Texas.
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