It expanded to new enterprises, grabbed a stake in key infrastructure sectors, worked to decentralize power distribution, and now offers a new alternative to today’s utility industry. But Tesla didn’t stop there, as our own Zachary Shahan espoused last year. Tesla, best known for being an all-electric car company, has disrupted a legacy industry with a new business model and consumer approach. Larger scale businesses generally adhere to the philosophy that growth management requires a view to past and current trends before anticipating future progression. replaced the company previously known as Tesla Motors, Inc. Yet, in 2017, Tesla’s business model evolved again, with its name change to reflect a broader practical umbrella beyond automobile manufacturing.
The company proved that selling electric vehicles can be profitable. The newer mission statement signifies the relevance of the firm’s batteries and related energy storage products. In mid-2016, under CEO Elon Musk’s leadership, Tesla adapted its corporate mission so as “to accelerate the world’s transition to sustainable energy.” This revision indicates a slight but important transition in Tesla’s business model - yes, it would continue to focus on all-electric vehicle manufacturing, but now it would also fully embrace market opportunities for renewable energy.
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