Transitioning towards public transport, cargo shipping and ride-sharing business
What's the story
Tesla unveiled an ambitious road map for the future: an expansion towards cargo shipping, urban transport and a ride-sharing business. CEO, Elon Musk is keen to add self-driving electric trucks and high passenger-density urban transport to existing line-up of electric cars. Musk explained that acquiring 'SolarCity Corp' and subsequently integrating it with Tesla would offer consumers an integrated 'solar-roof-with-battery' product for in-home power systems.
Do you know?
Who was Nikola Tesla?
Nikola Tesla, a Serbian American inventor, electrical and mechanical engineer was best known for his contribution to the design of the modern alternating current electrical supply system. He was born on 10 July 1856 during a fierce lightning storm.
2003 onwards
Tesla's journey
Tesla was founded in 2003 by Elon Musk. It is named after inventor Nikola Tesla. Elon Musk's vision was to manufacture affordable electric vehicles. Tesla launched its first electric vehicle in 2008: the Roadster Sports Car. Tesla then entered the 'luxury segment' and launched the Model S and subsequently the Model X crossover. It will now focus on manufacturing 'even more affordable electric cars'.
Safety issues
Bumps in the road
Tesla has recently been in the news owing to crashes attributable to malfunctioning of the 'auto-pilot' feature. Multiple transportation authorities have initiated investigations to accurately assess the safety mechanism of Tesla's self-driving cars. A 40 year old Ohio man died when his Model S drove under the trailer of an 18-wheeler on a highway near Florida, in the first fatal crash involving Tesla.
Expansion
Tesla - SolarCity Merger
Tesla's announcement of a proposed acquisition of SolarCity was met with an adverse reaction from the media. Its share prices bore the brunt and were knocked down by nearly 10%. CEO, Musk explained "Most just didn't understand how bringing together a car and a solar company made sense from a product standpoint." Musk's long term vision includes delivering sustainable renewable energy systems.
Mainstreaming electric mass transport and shipping
Peering into the future
Tesla keen to prop-up a ride sharing business: it would enable Tesla car owners to rent out their vehicles to other users when not in use. Musk believes the 'Tesla Semi' would significantly reduce costs of cargo transport and increase safety. Tesla's 'heavy-duty trucks' and 'high-passenger density public transport' are in early stages of development and likely to be unveiled in 2017.