Claim: Tesla, Inc. specializes in low-speed electric cars.

Tesla , Inc. -LRB- formerly named Tesla Motors -RRB- is a major American automaker , energy storage company , and solar panel manufacturer based in Palo Alto , California . The company was initially founded in 2003 by Martin Eberhard and Marc Tarpenning , although the company also considers Elon Musk , JB Straubel , and Ian Wright amongst its co-founders . The company specializes in electric cars , Lithium-ion battery energy storage , and , through their SolarCity subsidiary , residential solar panels .   Tesla first gained widespread attention following its production of the Tesla Roadster , the first electric sports car , in 2008 . The company 's second vehicle , the Model S , an electric luxury sedan , debuted in 2012 and is built at the Tesla Factory in California . The Model S has been the world 's best-selling plug-in electric car for two years in a row , 2015 and 2016 . Its global sales achieved the 150,000 unit milestone in November 2016 , four years and five months after its introduction . , the Model S ranks as the world 's all-time second best-selling plug-in after the Nissan Leaf . The Model S was then followed in September 2015 by the Model X , a crossover SUV . Tesla 's next vehicle is the Model 3 , which was unveiled in March 2016 . It is slated for release in 2017 with a base price of , before any government incentives .   , Tesla has sold over 186,000 electric cars worldwide since delivery of its first Tesla Roadster in 2008 , making the carmaker the second largest global pure electric car manufacturer after the Renault-Nissan Alliance . For two years running , 2015 and 2016 , Tesla ranked as the world 's second best selling manufacturer of plug-in electric cars after BYD Auto . Musk , the CEO , has said that he envisions Tesla as a technology company and independent automaker , aimed at eventually offering electric cars at prices affordable to the average consumer .   Tesla has a network of high-powered Superchargers located across North America , Europe and Asia for Tesla vehicles . The company also operates a Destination Charging program , under which shops , restaurants and other venues are offered fast chargers for their customers . Although Tesla operates a number of production and assembly plants , the company 's most iconic facility is the Gigafactory 1 near Reno , Nevada , where Panasonic builds 21-70 cells for Tesla batteries . Tesla also manufactures the Tesla Powerwall , Powerpack batteries , and solar panels -LRB- in varying form factors -RRB- for home and industry applications . Elon Musk owned 20.8 % stake in the company as of March 2017 .