POWERING AHEAD: A PANEL DATA PERSPECTIVE ON TESLA’S STRATEGIC GROWTH

Abstract

Tesla Inc., a prominent player in the electric vehicle and clean energy sector, has witnessed remarkable growth in recent years. The company, headquartered in Palo Alto, California, was established as Tesla Motors, Inc. in 2003 by its founders, Martin Eberhard and Marc Tarpenning. Over the years, Tesla has seen exponential expansion, solidifying its position in the market. In 2020, it achieved the highest sales among battery electric and plug-in electric vehicles, capturing 16% of the plug-in vehicle market and 23% of the electric vehicle market on a global scale. In July 2021, Tesla unveiled its Q2 earnings, which astounded the financial world with a record-breaking $1.1 billion in net income on $12 billion in revenues, surpassing Wall Street analysts' expectations. In addition to its automotive success, Tesla's subsidiary, Tesla Energy, has become a major player in the installation of photovoltaic systems in the United States and is among the leading global suppliers of battery energy storage systems. This paper delves into the intricacies of Tesla's operations, aiming to provide valuable insights and reference points for the company and its stakeholders as it continues to shape the electric vehicle and clean energy landscape.