Tesla Inc

Tesla, Inc. designs, manufactures and sells electric vehicles and energy systems. Its operations are divided into two segments: Automotive and Energy Generation and Storage. The Automotive segment focuses on the production and sale of electric vehicles, including the sale of regulatory credits. Energy Generation and Storage encompasses stationary storage products, solar energy systems and associated incentives. Founded in 2003 by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard and Marc Tarpenning, it's headquartered in Austin, Texas. systems and incentives. Founded in 2003 by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard and Marc Tarpenning, the company is headquartered in Austin, Texas.

The company's stock is listed on the Nasdaq exchange and is a constituent of both the Nasdaq 100 and S&P 500 indices. It is classified under the consumer cyclical sector and the auto manufacturers industry.

Tesla's stock has slumped 35% year-to-date (YTD) amid a series of setbacks. First-quarter vehicle deliveries reached 386,810, falling short of the estimated 457,000 and marking the first year-over-year (YOY) decline since 2020. Competition from lower-priced Chinese electric vehicle alternatives has eroded Tesla's market share, exacerbated by price competition in Q4 2023. Recent reports suggest Tesla is considering a 10% workforce reduction, potentially affecting 14,000 jobs. Meanwhile, the electric vehicle adoption rate is slowing as traditional manufacturers maintain their focus on petrol and diesel cars.