![]() ![]() 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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